Adding labels in blogger beta

I'll need to build a new customized template with beta's capability to add Labels now. Either that or I figure out how to add that to my old template. I think it's time for a change though.

Anyways, regarding the labels. I was trying to figure out how to rename the labels but apparently there is no way of doing that. The best I could find were the following steps provided by blogger help.

1. Click the "Books" label link on the left side of the page.
2. Click the "Select All" link at the top of the list of posts.
3. From the "Label Actions..." menu, choose "Remove label > Books."
4. From the "Label Actions..." menu, choose "Apply label > New Label..."
5. Enter "Reading" as your new label. (If you already have some posts with the label "Reading," you can simply apply that label, without making a new label.)

Alrighty, sounds simple enough.

I followed the steps up to #3. After I've removed the label, the list of posts dissappears. Which means I'll have to go back to ALL posts, reselect the posts which were previously labelled Books and the continue with Step #4. This is fine with the label I was playing with but what if I've been using the labels for the past 3 years and have hundreds of posts with that label? How would I possibly remember all the posts to reselect and re-label?

When reading the steps, I had the impression that the posts labelled Books will still be listed so that I would be able to easily follow up with step #4. Was that a crazy assumption?

I do think that they should create the function to rename the labels, this run around method of doing it is error-prone and tedious for mass postings of the same labels.

If nobody else has this problem, please tell me where I went wrong with the ste