My initial blurt was because the Visual Designer isn't saving the MCCBs RadTextBoxElement EmbeddedLabel changes while utilizing the Edit UI Elements feature. The changes are properly represented in the VD but are not saved to RadForm1.Designer.cs. Obviously, once the VD is closed, the control changes are lost. Lost changes made me half believe the feature wasn't available.
The VD does save stand-alone RadTextBox control changes.
I'd insert a code block, but that'd be useless. Instead, there's an attached picture with an MCCB configured with Edit UI Element.