Please create a tracker on joomlacode.
Compile to get the css using build/generatecss.php
Check for consequences on RTL languages (margins) and on other managers (some labels are coloured, but not all).

IMHO, using the same colour for links and Labels is confusing.

I opened a Tracker on Joomlacode:
http://joomlacode.org/gf/project/joomla/tracker/?action=TrackerItemEdit&tracker_item_id=29790

Inside the Tracker is the attached less File, where I removed the Color for the Labels, but kept the font-size.
I compiled the less as you described, and couldn't find any Issues in the Browsers (Chrome, Firefox, IE8 & IE9), and different Languages incl. RTL languages.

As a first time User with Github, how do I edit my Pull Request (remove color from label), or do I have to send a new Pull request?

Have a look at what has been written so far: http://docs.joomla.org/index.php?search=git

I am closing this PR as it has been resolved elsewhere