For the time being the following workaround can be used:

JavaScript:

    <script>
        function pageLoad() {
            var chart = $find("<%=RadHtmlChart1.ClientID%>");
            chart._chartObject.options.series[0].labels.background = "yellow";
            chart._chartObject.options.series[0].labels.border = {
                width: 2,
                dashType: "dashDot",
                color: "green"
            };
            chart.repaint();
        }
    </script>

ASPX:

        <telerik:RadHtmlChart ID="RadHtmlChart1" runat="server" Width="600" Height="400">
            <PlotArea>
                <Series>
                    <telerik:ColumnSeries>
                        <SeriesItems>
                            <telerik:CategorySeriesItem Y="10" />
                            <telerik:CategorySeriesItem Y="30" />
                            <telerik:CategorySeriesItem Y="20" />
                            <telerik:CategorySeriesItem Y="25" />
                        </SeriesItems>
                    </telerik:ColumnSeries>
                </Series>
            </PlotArea>
        </telerik:RadHtmlChart>