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For the application in question, navigate to Shared Components > Templates, and select the Replace Templates link from the Tasks region to the right of the page, 4000:4003. On the first page of the wizard, set Template Type to "Label", and click Next. On the next step, set the following:
Change From = No Label
Change To = Optional
Complete the wizard, and you'll have carried out a bulk update of the labels in your application.
I hope this helps.