Hi, I just noticed a serious issue.
I have 2 VL projects, and they are for 2 different bands.
Say Project 1(band A) and Project 2(Band B).
There are some songs that are used in both bands, but different arrangements…
I was setting up lyrics for Band B in Project 2 and wanted a song lyric that was already done in Project 1… So I closed Project 2 and opened Project 1 and copied only the LYRIC track by right clicking and selecting copy… Then opened Project 2 and pasted the clipboard lyric track into a new song. The lyrics track pasted fine and then i made my changes and edits.
Now here’s the crazy thing! I opened Project 1 and the lyrics track has all the changes that were made for Project 2 in that particular song.
There needs to be some way of creating a new lyric track in a different project instead of referencing the earlier same lyric files.
Have you tryed by moving the entire song in local media bay (right zone, switch to local not project) songs, then drag and drop the entire song from playlist. This way you should have an indipendent copy of the song files in the localc media folders. Then open project B Nd paste the song from the bay, then cut paste the lyrics in the required place and delete the transfer song from playlist.
You can also save the Song “Song - Save Song” in two different Versions and than insert the different versions in your projects. This way you have two separate versions but you need to give them Different Names “Song_v1” and “Song_v2” as example so that you can distinguish between the two versions.
That will also copy the asset path (lyrics data) so when you change that it may influence other projects.
You should probably rather Save Archive and work on that?
Yes, I figured that is what is happening.
Couldn’t/Could we have a pop asking whether the assets should be copied to the current project folder or refer to the other asset folder?
Because now in this case I have lost my earlier project’s 2 songs and had to re-edit the lyrics after doing an archive.
Edit/Preferences/Studio/Store Assets in Project Folder
I have that enabled. I also have Import: Copy Files to Project selected. 
Yes but your original problem appears to be because you changed the lyrics in one project using the same assets as in another project. To maintain different versions, use Save Archive and work on that. copy/paste from one project to another and then editing media data is calling for trouble.
I’m just going by the isea of how it is in Cubase / Nuendo. When I copy media from one project to another, it asks me if I want to comy the files into the current working project. Something like this should be available. Cos it is quite troublesome and scary to be making archives everytime new song is added.
I really think the assets management need some thought and working on.