The caption of map shape should be updated automatically when the CaptionTemplate is changed. When its content is changed then it should be located according to hotspot if it used in the template.
The caption should be updated according to the map shape properties. For example when the MapShape.Visibility property is set to Collapsed then the caption should be collapsed. Also if the shape is moved using the information layer API functionality, then its caption should be moved too.

Also it should be possible to define different font size, foreground color, font name for individual shapes.