Is it possible to move the label of a diagram link by itself (e.g., without moving the corresponding link)?

For example, if I have the following setup:

SHAPE ONE >------------------------------Label Text ---------------->SHAPE TWO

Can I move the label text by itself to be the following (without moving any control points on the link):

SHAPE ONE >----------------Label Text ------------------------------>SHAPE TWO

Thanks for the ideas; I'll play around with them and let you know if I have further questions.

In the meantime (and on a related note), how would I go about making a link label with multiple lines be center aligned?

For example, if I have the following label defined for a link between two node shapes:

Application Submitted
Subscriptions: 1

What would I need to change to make it be something like the following:

Application Submitted
    Subscriptions: 1

I've played around with the DiagramLink.TextAlignment property (setting it to StringAlignment.Center) as well as the underlying label's HorizontalAlign property (also setting to StringAlignment.Center).  However, nothing I've tried has proved successful.  (I'm able to make the text center-aligned for node shapes, but not for links.)

Here's how I create the Link and define the text:

01 var link = diagram.Factory.CreateDiagramLink(fromNode, toNode);
02 link.AddLabel("First Line of Text" + "\n\n" + "Second Line of Text");
03 link.TextAlignment = StringAlignment.Center;
04 foreach (var label in link.Labels) {
05      label.HorizontalAlign = StringAlignment.Center
06 }

Neither lines 03 or 05 seem to make a difference.

What else is required that I'm missing?