Yes. I figured it out even though I've been using the Circle Dock for about 4 days. It will work on any version of Circle Dock and not only on the dock (folder) but also on the icons / shortcuts.
Display the icon (folder / shortcut) in Explorer at the largest view size and do a snap (take a picture), for example with Pic Pick / Hyper Snap / ... and save the picture as *.png. Of course if you want a caption, you have to snap the image with the text (icon caption).
This way you will have a permanent dock (folder) / shortcut label still displayed for all the icons you make following my procedure, although the author of Circle Dock does not support this option ...
However, I still recommend you use colored folders, not only in Circle Dock, but also in Windows. I use the following colour combinations:
System = yellow
Net = dark blue
Text = pink
Graphics = red
Audio = light blue
Video = purple
Data = white
Emulation = light green
Games = orange
Alternatively you can use other colours, however I have been using the ones above for many years and know the meaning of colours, I sort everything that way, even programs, data ... you can use other colours as subcategories, for example:
XXX = black
Label Question------------------------ so this thread is resolved ----------------------------------
You can even add any keyboard shortcut (my other method) mapped to an icon / shortcut in Circle Dock, so you can for example in VLC (video player, ...) start videos, pause, ... turn off VLC