Whenever I’ve heard “short-lived” or “long-lived” pronounced with a short “i” as the past tense of the verb “live” is, it has sounded wrong. I’ve always thought the “i” in “-lived” should be pronounced with a long “i” (-lyved.)
The mispronunciation of "short-lived" by practically everyone, esp. nitwits on TV, is one of my longest-lived pet peeves. It has a long "i", of course, because it's an adjectival form of "life," not of "live." It's always seemed obvious to me: He had a short temper; he was short-tempered. He had a short life; he was short-lived. Care to join my campaign to stamp out "short-livd"?
Well, no, because it's almost certainly a losing battle.
Etymologically, you are correct. The "-lived" in short-lived (or long-lived, for that matter) comes from life, noun, + the adjectival ending -ed. The f turns to a v the same way it happens in the leaf leaves pair. "-lived" should therefore be pronounced with a vowel rhyming with "eye." The problem is that lived, the past tense of the verb "to live," is tremendously more common, so people often pronounce the "-lived" adjective as if it were the verb "lived."