You are not alone in this request!
However, I am sorry but the CAVS format is proprietary. I have heard they do have a program that claims to convert their format to a .cdg format file that is identical to a Karaoke CDG disc.
However,

we don't yet have a way to allow importing .cdg songs on the hard drive into our kma format and database. Currently, we only have importing for CDG Karaoke discs, and have a 196,000 song definitions database to make that easier to do.
We are planning on writing a
IMPORT CDG FILES operation to take .cdg files and convert them to Hoster's KMA format, and add them to the database. Many of our users started with Microstudio, and imported their songs to the hard drive.
Hoster has a high priority at MTU. I am interviewing a new programmer tomorrow to help with new upgrades.
I wish I could tell you a target date, but we are not there yet. I can say it is high on our "wish list" to be added.