Intelligently wrap chord lines: with this option selected, whenever you manually wrap a line of lyrics (such as by hitting the Enter key while the cursor is in the middle of the line), the program examines the preceding line. If it is parsable (it only contains chords), it will also be wrapped in the same place.

Similarly, if you unwrap a line of lyrics (such as by hitting Backspace at the beginning of a line), both the lyrics and chords will be moved together.