wow frnd i am also trying for a same player.now i am using
1.make file "not"read only.play it in windows media player .go to file->properties->lyrics..paste the lyrics..ok.
2. go to mp3 file "properties"(rt clik)-> summary->lyrics->paste to it.
play in windows media player,turn on lyrics from "view->now playing tools->lyrics"
plz tell if it can be played in winamp