Seems like there would be no problem where the lyrics are concerned, if you wrote the major portion of them. If you only change a word here and there and pass them off as your own, then plagiarism as well as copywrite infringement may come into play.
I'd imagine the same copywrite laws would apply where the music is concerned. You may be held accountable to produce the original disc that the music came from, just as any other Karaoke track being used at a public performance.
Karaoke Home Producer is the MTU program you'd need to create a new Karaoke track. You would also need Microstudio to import the music tracks to the hard drive for processing with KHP, and burning the finished product to a cd, if you wished to.
You also mentioned Vogone.
That being the case you might want to take a look at the Karaoke Suite pricing structure.
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