I was playing around with the default hotkey window, and changed the "TextMargin" in the IconBank to 50,50,50,50 and it appears to have moved the labels out of site on the icons.
Code:
<?xml version="1.0" encoding="utf-8"?><Page BackgroundColor="#00FF00" clientmarginFrame="10,10,5,10" clientmarginNone="10,10,5,10" eq2usescomwndcontrols="true" Location="60,707" MaximumSize="1024,1024" MinimumSize="70,60" Name="Hotkey" PackLocation="left,bottom" PackLocationProp="0060/0001,-061/0001" ScrollExtent="544,62" Size="544,62" UserMovable="true" UserResizable="true" version="2.0" version_note="Replaced volume page continaing icons with iconbank">
<Page AbsorbsInput="false" Location="9,10" Name="BankPage" ScrollExtent="21,43" Size="21,43">
<Button LocalText="Up" LocalTooltip="Next Bank" Location="3,0" Name="UpArrow" ScrollExtent="15,15" Size="15,15" Style="/ButtonStyles.arrow_up" Tooltip=":b7d61af6b99ebb95:Next Bank">:b7d61af629ef352d:Up</Button>
<Text AbsorbsInput="false" Color="#F0D0A0" Font="/TextStyles.Normal.NormalStyle" LocalText="6" Location="0,14" Name="CurrentBank" ScrollExtent="23,18" ShadowStyle="/ShadowStylesNew.Outline.style" Size="23,18" TextAlignment="Center" UserMovable="true" UserResizable="true">:b7d61af6e24785eb_1:6</Text>
<Button LocalText="Dn" LocalTooltip="Previous Bank" Location="3,28" Name="DownArrow" ScrollExtent="15,15" Size="15,15" Style="/ButtonStyles.arrow_down" Tooltip=":b7d61af6404eacdc:Previous Bank">:b7d61af680392b5e:Dn</Button>
</Page>
<IconBank BackgroundOpacity="1.000" Dragable="true" Font="/TextStyles.Normal.NormalStyle" FrameColor="#B5935A" IconStyle="/IconStyles.button" Location="29,10" Name="Icons" PackSize="a,a" PackSizeProp="0039/0001,0019/0001" RenderLabel="false" RenderFrame="true" ScrollExtent="505,43" Size="505,43" TextColor="#FFFFFF" TextMargin="50,50,50,50" TreatAsButton="true"/>
<Page AbsorbsInput="false" Name="WindowFrame" PackSize="a,a" PackSizeProp="0000/0001,0000/0001" ScrollExtent="544,62" Size="544,62">
<Page AbsorbsInput="false" BackgroundOpacity="1.000" Name="Frame" PackSize="a,a" PackSizeProp="0000/0001,0000/0001" RStyleDefault="/WindowElements.DesktopWindowFrame.data.frame.rect" ScrollExtent="544,62" Size="544,62"/>
<Page AbsorbsInput="false" BackgroundOpacity="1.000" Name="Bkg" PackSize="a,a" PackSizeProp="0000/0001,0000/0001" RStyleDefault="/WindowElements.DesktopWindowFrame.data.bkg.rect" ScrollExtent="544,62" Size="544,62"/>
</Page>
</Page>
