prioritizing performance, what is the best option for changing the theme of a label in real time, such as when hovered over?
Dedicated themes? Changing theme overrides specifically loading in the assets needed? Differently themed label instances with visibility toggled?
Using theme item overrides at run-time is fine. You don't need to create a dedicated theme just for this, or toggle the visibility of different labels.
As always, when it comes to performance: Measure, measure, measure :)