The text label issue is a graphical glitch. It (partially) results from the fact, that editing the label’s text opens an Edit mode and pushes down the text label’s contents, because a format bar is displayed additionally at the top of the window. But this push down affects the edited object only; other existing objects are not similarly pushed down, they stay where they are.
Here are examples from Michael’s Lookup Wizard.
The text duplication issue seems to differ when you open a form the first time, and when you close and reopen that form.
The first time, I got the text duplication effect, too. The second time, I got the blue editing mode as shown in my screenshot.