For entering Lyrics & Chords in for a song, it would be great if there was integration with the ChordPro format.
A lot of songs we use come in this format which is similar to yours, but slightly different.
It's not a big deal, it just means that when entering songs there's always editing that needs to be done.
For the most part, if you remove the header information, such as the tempo, key etc, and just copy/paste the lyrics and chords, it should work fine.
Hope this helps,