Tokenize the Labels or allow Labels according to the relationship defined

I'd like to customize the Labels for each relationship.

for example
my Blog Entries can be the parent of images (i am replacing the node images module) or albums
so for the Images I'd like
Label for "Children nodes": set to something like Images or a pretty flower (the title of the image)
and for the Albums I'd like
Label for "Children nodes": set to something like Album or Hiking in the Forest (the album title)

hmmm
Would it be possible to turn those labels into links, say a link to the Image node or the Album node?
thanks