There is a way, anyway.
In main panel you could add as a last column 'Lyrics' (in 'Album and Tracks' or 'Track Detail views). It is not necessary this column to be too wide, just to see few characters of the lyrics, if any.
In now playing list yo can do the same trick.
Last, you can add a field in the playing track information pane.All this is just a workaround that I use, but... it doesn't work well with mp3.
In my configuration only sysnced lyrics embedded in a mp3 file are displayed.
This is not a big problem for me, because I don't have many mp3's (mostly musepack and ogg), and most of the lyrics are synced, but in your case it may not work well.