Place Label Cell Not Reading Property

Hi

I have created a Label cell following Leonard's demo https://communities.bentley.com/products/microstation/m/microstation_gallery/271181 but when I place the label it is not reading the value from the object.

The value that I want the label to read is the tag in the Value property and is 1440-XV-1040.

Even if I use a leader line the text does not read from the object.  I have found that I can reassign the text to the actual object that I want to link it to by opening Text Editor and right clicking on the text and selecting Reassign Field but this less than ideal.

Does this not work for referenced files?  I have a model referenced into my 2D file so does that affect the functionality of the Label cell?

Thanks,

Justin