Labels use fake transparency. I mean that alwaysontop transparents labels will let shine your desktop wallpaper even if they are over a window or whatever...
Currently, I have all the stuff onbottom. So labels could be completely transparent. But I'm going far way of the real question...

You can use transparent labels and add layercuts over them (use #K). Use a little amount of transparency for the layercuts if you want to still be able to see your labels...