Have you played around with creating your own expression in labels? You can do this via text from the Drawing toolbar or via the Labels tab in Layer Properties. The former is better if you want to do each label individually, the latter is better for automating labels and you can make attributes part of the expression.
I'm not a programmer and I'm able to do this fairly easily -- you just have to make sure the code is exact. There's a matrix of the codes in Help, "Formatting tags available in ArcMap". Or you can access it via the Properties dialog when you add text manually in ArcMap (use the "About formatting text" link at the bottom of the dialog box). For example, if I wanted to bold the word "text" in my label, I'd type <BOL>text</BOL>
To put text on another line in your label, add "& vbcrlf &" (w/o the quotes) in the expression each time you want text on a new line.
Does this help?
Janet