Axes should allow custom formatting for each individual label. Consider the following scenario - a chart provides information for each hour of the day. Each label should contain only the hours data, however, when the date changes the label should contain the full date information.
This functionality is already available. The help article on the matter has been updated to include a second example where the requested formatting is demonstrated. Here is a link to the help article: http://www.telerik.com/help/winforms/chartview-customization-custom-labels.html