That makes sense to me as expected behaviour (not saying desirable, just expected 🙂 ) because the Mixer is essentially an overlay on top of the existing Lyric pane. It doesn't open as a new pane and force the bottom of the lyric pane up.
Obviously Peter can confirm/clarify.
If I'm right, I'm not sure there is a 'fix'...
Unless Peter wants to consider maybe adding a Setting (here I go again with more optional settings... 😛) on the Mixer for "Open as Overlay or Open as Pane" where the latter option would actually resize the Lyric pane to fit the Mixer pane when it is opened. By resizing the Lyric pane, it would prevent anything from being hidden from view (albeit being a lot shorter in height).
I'm wondering if there are people that are going to want the Mixer left open and on screen more than others who would possibly welcome this option?