Some background and then the FIX.
The fix is based on the premise that all the lyric tracks are out of sync by a set time, eg they all start a bit late.
Minor differences in individual words is purely lack of refinement on my behalf.

It's been bugging me since @bafo5 posted that the timing tracks were out of sync, and I couldn't work out why or how to fix it. I can guarantee you that they were as near perfect as possible when I exported them. There is basically only 1 version of the song, the one I linked in my first post, so that shouldn't have been the issue.
Recently someone posted the lyric timing tracks for "Taking Care of Christmas" and I thought "Great, that's going to save me a lot of time" as I had purchased Lilia's sequence of this song and was planning on adding the singing faces.
So I imported the timing tracks (2 of - Randy and Beverley) and they were out of sync!
Remembered @Gilrock had posted a response in this thread.
The Shift Effects function is good, BUT as Gill pointed out it will shift
all effects. Which is not what you want if, like me, you already have a sequence with lots of other effects. So I came up with a simple fix for re-syncing imported lyric timing tracks:
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Create a new musical sequence with the same audio track
Import the timing track(s)
zoom in and centre near the first word
find the start of the actual singing and mark the time in a new timing track
mark the timing of the start of the first word of the imported lyric timing track
eg for the taking care track,
Ho started at 6.5 but the lyric started at 8.1
work out how many milliseconds apart the two timing marks are:
one easy way is to drop an effect between the 2 timing marks and then look in the status bar at the bottom and it will list the duration (eg 0:01.550)
Click Edit / Shift Effects
enter the duration required - put a minus to reduce, or a plus to increase (eg -1550)
the lyric timing track(s) should now match the actual singing
Export the timing track(s) (suggest you use a new name)
Now, open your proper sequence and import the fixed timing tracks.
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This is the process I just used to fix the lyric tracks for Taking Care of Christmas and they now match perfectly. Wrote all this and posted so @baf05 and others can re-sync my timing tracks or any others that have this issue.