Expand the timeline by moving the slider at the bottom-right, to see whether a lyric snippet is hiding. 
Update to the current version.
For licensed users upgrades are free for up to six months from purchase date. After that, VP will continue to fully function but a fee will be required in order to register the newest. Retain your old install file and registration info.
Or, if registered, download and install a release that is within the six-month window. Find it here.
If the issue persists come back.