Here's one post but just just a search for text events, or text event to markers or text events to LYRIC view (ALT+8), you can do all that in Reaper easily but I have not played with BandLab enough. I think I made some scripts to copy text events to regions or makers.
Let me know how you go.
http://forum.cakewalk.com/How-can-I-convert-TEXT-events-to-readable-LYRICS-in-MUsic-Creator-2-m3438283.aspx

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BB-Section-Text-Midi-Text-Events.gif (472.97 KB, 103 downloads)