To Specify the Default Style Settings for All Label Styles in a Feature
In Toolspace, on the Settings tab, right-click a feature collection and click Edit Label Style Defaults.
In the Edit Label Style Defaults <Feature Name> dialog box, define defaults for all label styles belonging to the feature by changing the property settings in the Value column.
When you change a value at the current level, the check box is selected in the Override column.
Optionally, lock any setting by clicking to change it to .