It seems that the UseMnemonic property was not linked to the text primitive inside the label.
Thank you for notifying us, your points have been updated.
The issue is now addressed and the fix will be available in the upcoming Service Pack (due next week).
If you do not wish to upgrade to the latest version, you have to set UseMnemonic both to the control and to the text primitive inside the control. The last can be done both in design-time and with code:
Choose "Edit UI elements" from the action list;
In the dialog that pops up select the TextPrimitive and set its UseMnemonic property. See the attached picture for more information.
TextPrimitive text = (TextPrimitive)this.radLabel1.LabelElement.Children.Children;
text.UseMnemonic = false;
Don't hesitate to contact us if you have other questions.
the Telerik team
Check out Telerik Trainer, the state of the art learning tool for Telerik products.