\version "2.17.96"

backtodefaults = {
  %% \override LyricText.extra-spacing-height = #'(0.2 . -0.2)
  %% \override LyricText.vertical-skylines = #grob::always-vertical-skylines-from-stencil
  \override LyricText.Y-extent = #grob::always-Y-extent-from-stencil
  %% \override VerticalAxisGroup.nonstaff-nonstaff-spacing =
  %% #'((basic-distance . 0)
  %%    (minimum-distance . 2.8)
  %%    (padding . 0.2)
  %%    (stretchability . 0))
}

lyrI = \lyricmode { Yes -- ter -- day ly -- rics spa -- cing still was far a -- way. }
lyrII = \lyricmode { Help! __ _ _ I need some -- bo -- dy! __ _ Help! __ _ _ }
lyrRef = \lyricmode { Now \backtodefaults it looks as if that's goin' to stay... Oh I be -- lieve in Li -- ly -- pond! }

mel = \relative c' { c8 c c2. | r4 c8 c c c c c | c8. c16 c2 r4 }
melRef = \relative c' { r4 c8 c c c c c | c4 c8 c4. c4 | c c c c | c c8 c4. r4 }

%% #(ly:set-option 'debug-skylines #t)
#(set-default-paper-size "a5")
\score {
  <<
    \new Staff = "staff" {
      \new Voice = "mel" \mel
      \new Voice = "melRef" \melRef
    }
    \new Lyrics = "lyrI" \lyricsto "mel" \lyrI
    \new Lyrics = "lyrRef" \with {
      %% \override LyricText.extra-spacing-height = #'(+inf.0 . -inf.0)
      %% \override LyricText.vertical-skylines = ##f
      \override LyricText.Y-extent = ##f
      %% \override VerticalAxisGroup.nonstaff-nonstaff-spacing = #'()
    } \lyricsto "melRef" \lyrRef
    \new Lyrics = "lyrII" \lyricsto "mel" \lyrII
  >>
}