I edit lyrics externally on my PC and not in ST3. This is far more powerful because I can do bulk changes to all my lyrics in seconds. Examples of things I do: timeshift all timecodes, scale timecodes for source audio tempo changes (without timestretch), colour changes for ST3 chords, inject lyrics into MP3/M4A File for playing in my backup player... to name a few. I doubt I'm the only person who doesn't edit lyrics in ST3...??
Similar to the request to ask a user if they'd like to overwrite a song when importing the new song archive files, it would be really helpful upon refreshing to have some option to replace ST3's lyrics. Any other way of bringing in the updated song means that the song gets removed from any playlists it's included in, making using playlists for genres and keeping historical playlists impossible.
Hope I made sense?