No, it's gone in both 3.0 and 4.0; hasn't worked reliably in years. If we ever brought it back it would probably be by reading MP3s with embedded lyrics in Pleco directly, rather than trying to get that information from the system music library.
Just in case anyone out there is listening and happens to be in the same boat I am, does anyone know of a good lyrics app that allows copy/paste? That way the "lyrics" in the song would wind up in the clipboard, yes?