Sure it would be nice. But it's not going to happen. The
LyricWiki API won't allow it. Although they have user-contributed lyrics, they also provide "official" lyrics from
Gracenote. That agreement, no doubt, requires them to abide by and enforce licensing restrictions, regardless of whether the lyrics came from Gracenote or were "contributed" by a user.
It would be interesting to know how much an agreement with Gracenote would cost. Maybe the answer to this request could then be something like, "We could do that, but only if those wanting it would pay a separate $20/year subscription fee, or if everyone would pay $10 more for the program." If users were actually willing to pay for this (and other meta data), it might be a worthwhile sideline for JRiver. I suspect there's a greater demand for the dream of a free lunch.
The irony of the situation is there's nothing wrong with collecting "official" lyrics and saving them in a personal database, whether they come from the liner notes of a purchased CD or some website. There's no obligation to pay copyright holders royalties for such personal use. But Gracenote does for right to include them in their commercial database. So if we want convenience of automatic access to such data, we'll have to pay for it. Unfortunately, the fact most of the data is easy to get (or at least view) means we're less inclined to pay for it.