From e-mails back and forth to Jeff he also came back with this helpful tip because I was using the Ribbon command for the network and they weren't working correct.
Hmm, now I AM seeing that the Ribbon commands from the PipeNetwork context menu don't seem to be working. What does work for me is: make sure no items are selected, go to the Annotation tab on the ribbon, choose Add labels, in the label dialog that comes up choose the PipeNetwork, Entire network profile, set the desired label styles, add labels.