Erica,
I am trying to make ArchiCAD text reasonable readable in AutoCAD.
I found a way to come around line spacing issues by manually adjusting it when imported in AutoCAD but this doesn't work on labels.
When exported labels shift and usually overlap the pointer line. Initially I thought that this was AC/ACAD formatting discrepancy issue but when I exported a label in ArchiCAD I found that same thing happens in ArchiCAD as well. I would expect that labels, when exploded, transform to lines and text with same formatting, so I could do same work around with line spacing ones I export it to ACAD.
Regards