Hey Janith!
When you edit a lyric and add a Background and things, you would then click the Star Icon on that lyric (on the left side of MediaShout 7) to save that to your Cues Library. Then, next time you need that song, go to the Cues Library (Large Star Icon on the very right side of MediaShout 7) to find that song and insert it.
Is that what you were already doing? Or were you going back into Insert Lyrics to find the song again after you've made the edits?
Thanks,
-Ryan