>I have an In top level form which has a static container class(form). This class has a label on it that I want to assign a ToolTipText dynamically. I can assign the text okay but when I hover over the label it acts like it has no text assigned to it. This happens even if I assign the text directly.
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>Also, if when the parent form is loading I do a MessgeBox(ThisForm.signoffqueucontrol1.Label1.ToolTipText) it does display the text okay but again hovering over the label does not work.

What is the form's ShowTooltips property set to? Also, you may want to update to SP2.