Sheesh, I havent been here in a while and cant believe I missed this post.
I havent played with the angle editing but the length type is pretty fun. I added a feature to our objects that allow the user to drag the joist and beam labels across the length of the member.
In the following example, locx is the location of the label along the length of the joist (x-axis), labl_v is a verticle placement either above or below the member. The first hotspot determines a start point, the second creates a vector or direction to move from the start point and the last is the moving point itself. I also borrowed a tip from DNC concerning the unique ID by increasing the number by 1 before each HOTSPOT statement. That way you dont have to keep track of which ID's you have used and it becomes more "Cut & Paste" friendly.
hsp=hsp+1
HOTSPOT2 0, labl_v, hsp, locx, 1+128 ! base
hsp=hsp+1
HOTSPOT2 -1", labl_v, hsp, locx, 3 ! vector
hsp=hsp+1
HOTSPOT2 locx, labl_v, hsp, locx, 2 !move-able
TEXT2 locx,labl_v,lstr
