With the updated (within the last month, not sure specifically) context menu (which looks very pretty, by the way), it is now two extra taps each time a user wants to perform a lexicon lookup: one tap to maximize the word info box in order to read the content, one tap to minimize it before it can be closed (it does not appear that I can close the pop-up pane simply by dragging the size selector to the bottom of the screen).
If there is a fear of inconveniencing those looking for the notes and highlights or factbook options, I would suggest Logos might consider offering user preferences for. Logos software is REALLY light on user-configurable preferences. Many of these really impact the use experience, but are not things that would significantly affect software maintenance.