The time derivative of $ \lvert \vec v \rvert $ is the tangential component of acceleration, which is a scalar quantity, and not the tangential projection, which is a vector. The term ‘tangential acceleration’ is ambiguous and arguably could mean either of these, but they are not the same thing.
Setting physics aside for now, given any vector $ \vec u $ and any nonzero vector $ \vec v $, you can define the component of $ \vec u $ in the direction of $ \vec v $ as a scalar quantity: $ \operatorname { comp } _ { \vec v } \vec u = \vec u \cdot \vec v / \lvert \vec v \rvert $. You can also define the projection of $ \vec u $ along the direction of $ \vec v $ as a vector quantity: $ \operatorname { proj } _ { \vec v } \vec u = ( \vec u \cdot \vec v / \lvert \vec v \rvert ^ 2 ) \, \vec v $. These are related, as $ \operatorname { proj } _ { \vec v } \vec u = ( \operatorname { comp } _ { \vec v } \vec u ) \, \vec v / \lvert \vec v \rvert $, and $ \operatorname { comp } _ { \vec v } \vec u = \pm \lvert \operatorname { proj } _ { \vec v } \vec u \rvert $ (with plus if $ \vec u \cdot \vec v $ is positive, minus if $ \vec u \cdot \vec v $ is negative, and both if $ \vec u \cdot \vec v $ is zero because then both of these quantities are zero).
When $ \vec v $ is a standard basis vector ($ \hat \imath $ or $ \hat \jmath $ in 2 dimensions), then these are the ordinary components; that is, $ \operatorname { comp } _ { \hat \imath } ( a \hat \imath + b \hat \jmath ) = a $, and $ \operatorname { comp } _ { \hat \jmath } ( a \hat \imath + b \hat \jmath ) = b $. In constrast, $ \operatorname { proj } _ { \hat \imath } ( a \hat \imath + b \hat \jmath ) = a \hat \imath $, and $ \operatorname { proj } _ { \hat \jmath } ( a \hat \imath + b \hat \jmath ) = b \hat \jmath $. You can also write $ \vec u = ( \operatorname { comp } _ { \hat \imath } \vec u ) \hat \imath + ( \operatorname { comp } _ { \hat \jmath } \vec u ) \hat \jmath $ and $ \vec u = \operatorname { proj } _ { \hat \imath } \vec u + \operatorname { proj } _ { \hat \jmath } \vec u $. (And this works for any orthonormal basis, not just for the standard basis $ \{ \hat \imath , \hat \jmath \} $.) This is why, even in the general case, we use the word ‘component’. (For the reason why we say ‘projection’, imagine shining a light on $ \vec u $ from a direction perpendicular to $ \vec v $ and observing its shadow on the line through $ \vec v $.)
Now, when $ \vec v $ is the velocity vector of an object in motion, then the direction of $ \vec v $ (assuming that $ \vec v $ is nonzero so that this makes sense) is always tangent to the curve of motion, so $ \operatorname { comp } _ { \vec v } \vec u $ may be called the tangential component of $ \vec u $, and $ \operatorname { proj } _ { \vec v } \vec u $ is the tangential projection of $ \vec u $. If $ \vec u $ is the acceleration $ \mathrm d \vec v / \mathrm d t $ (where $ t $ is time), then by differentiating $ \lvert \vec v \rvert ^ 2 = \vec v \cdot \vec v $, we get $ 2 \lvert \vec v \rvert \, \mathrm d \lvert \vec v \rvert = 2 \vec v \cdot \mathrm d \vec v $, so $ \mathrm d \lvert v \rvert / \mathrm d t = \vec v \cdot \vec u / \lvert \vec v \rvert = \operatorname { comp } _ { \vec v } \vec u $. Thus, the derivative of speed with respect to time is the tangential component of acceleration.
So you're hearing ‘tangential acceleration’ and interpreting this as the tangential projection, which confuses you since that's a vector. But what is really meant (and should be said) is the tangential component of acceleration, and that's a scalar.