I can not find the Label Line tool?

You can find "Label Line" in the "Dimension Element" toolbox

This is not bearing. That is angle and distance.

Change your Angle Readout settings...

* This thread is also really old, better to create a new one with your questions.

I did that. It turns out its a bug in ORD3. 

Great...

Great...

I don't have ord 3 but it does work in V8iss3-10 .. if you have set  your  read out to bearings , then after the line has been labelled by angle in ord  , then get the properties of the line if it shows it as bearing  then copy and edit).

Otherwise for now until ord is fixed do it in v8i ... only other alternative is to make a vba macro (seems a bit extreme) or an equation in excel to calculate bearing from angles relatively easy try google there are bound to be loads of free ones as lots of surveyors use these and share.....