Yeas Arc ,
U have got it correct its a large label which may contain a small Hyperlink or even a large one. But I have to fix the size of the label during design time to make the design look clear.

I had thought of your suggestion earlier but how will I know which parts of the label is occupied by the text? That was the problem I faced when thinking of ur idea to get the mouse position and work accordingly.

Can u solve this problem for me?