If you're going to be using alot of these "Hover" Labels then you'd be better off making a Control or using a Class, e.g.

In a Class Module, Named: HoverLabel..
Code:
Public WithEvents Label As Label

Private Sub Label_MouseMove(Button As Integer, Shift As Integer, X As Single, Y As Single)
    If TypeName(oLastLabel) = "Nothing" Then
        Set oLastLabel = Label
        Label.ForeColor = vbBlue
        Label.FontUnderline = True
    End If
End Sub
In a Module..
Code:
Public oLastLabel As Label
In a Form with 3 Labels..
Code:
Private Link1 As New HoverLabel
Private Link2 As New HoverLabel
Private Link3 As New HoverLabel

Private Sub Form_Load()
    Set Link1.Label = Label1
    Set Link2.Label = Label2
    Set Link3.Label = Label3
End Sub

Private Sub Form_MouseMove(Button As Integer, Shift As Integer, X As Single, Y As Single)
    If TypeName(oLastLabel) = "Nothing" Then Exit Sub
    oLastLabel.ForeColor = vbWindowText
    oLastLabel.FontUnderline = False
    Set oLastLabel = Nothing
End Sub

Private Sub Label1_Click()
    'Play Code to Jump to URL in Label1 Here..
End Sub

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Aaron Young
Analyst Programmer
[email protected]
[email protected]