Lawrence Lim from Singapore is the king of this, he's posted a couple Veg files on the VASST site. They do a lot of Karaoke in Asia, so he's developed a couple of quick ways to do this. Also, since it involves quite a few movements, Ultimate S is a good way to repeat segments, if you want a speedier method.
Look for veg's posted by Law or LawOne.

You know given the huge amount of that stuff that gets turned out in Asia they'd have to have some automated way of doing it, or is it just cheap labor that does it.
Bob

The cookie cutter and key frames with about a million keyframes and a background color and slow, smooth, linear operations on the keyframes to get them to snap. If the verses are repeated you can blanket copy and paste the one section to the newer section. If you have a low attention span this is not for you. I worked on two songs for days and days to get the right cadence.

JJK

I attempted this one, but it was too tedious for the amount of time I had. Instead, I used black text and then used light rays behind it to highlight the text in-sync to the music. It worked well...but it is not a bouncing ball.

Thanks for the input.