Currently no, but with version 3.5 you will be able to play lyrics only songs which mean you can timecode them.
So no taking breath for me 😉. Usually I take about 1 or 2 months off from development between feature releases but that was not possible this time due to the continued problems with the audio engine in version 3.4. I hope to have version 3.5 finished end of January / early February and this time without big issues leading to 10 patch releases.