Any other ideas? I'm having the same issue.
Arc10, trying to label features for a specific shapefile, tried multiple fields - none will display...
I've also tried to label other shapefiles in the same project - none are working.
If I click on "View Unplaced Labels" they show up in red. If I "Convert labels to Annotation" nothing happens (except it turns off the label features option)
I keep clicking "Label features in this layer" but can not get labels for specific field to appear in map for point shapefile.