Question: The drop down list under the Open button shows the 10 most recently used label files, but I want to remove one or more of the labels from the list without waiting for 10 other labels to be used.

Solution: The list of recent files is stored individually for each Windows user that access the program, in C:\Users\[username]\AppData\Local\Wasp Barcode Technologies\Wasp Labeler V7\Wasp_LabelerV7_Settings.xml

You will need to close the Labeler program while updating the file. Make a copy of the file first in case something goes wrong, then edit the file. The first section of it is the recent files. For each line from the recent files list in the program, you will see a matching line similar to this:
     <FileName>C:\LabelFiles\Inventory Item.labx</FileName>

For each label you which to remove from the list, replace that line with this:
     <FileName />

After replacing all of the labels you wish to remove, save and close the file, then open Labeler again, and the labels should no longer appear on the drop down list.