Hey Bill and William,
Just like in the older versions of MediaShout, you would set the Lyric/Scripture up the way you want it (with the proper Text Box size, Text Font Style/Size/Color, Background, etc.). Then, at the bottom of the program, click the Templates up arrow and click Save As to save that as a Template. Then, you can add it to your Favorites or Set it as Default, as needed.
We have a really good video on this on our Features Page: www.mediashout.com/features.