I was getting really frustrated with my text not showing up as well.
Ends up I should have been copying and pasting the Label and buttons from CLICK_Components.fla, and not adding my own.
When the text still wasn't updating I took a look at the SFTutorialAS3 code (SFAS3Menu.uc) and saw that they were using the following in their default properties.
Code:
WidgetBindings(0)={(WidgetName="mainMenu_tf",WidgetClass=class'GFxClikWidget')}
Lastly, the kismet node for OpenGFXMovie needs to have the Movie Player Class changed to the .uc file you create for these labels etc or they won't show up at all.
Hope that helps! 
Here's my full code.
Code:
class Test_TeamSelectionUI extends GFXMoviePlayer;
// Standard Flash Objects
var GfxClikWidget teamSelectTF;
var GfxClikWidget joinBlueBtn, JoinRedBtn;
function bool Start(optional bool StartPaused = false)
{
Super.Start();
Advance(0);
return true;
}
event bool WidgetInitialized(name WidgetName, name WidgetPath, GFxObject Widget)
{
switch(WidgetName)
{
case 'teamSelect_TF':
teamSelectTF = GfxClikWidget(Widget);
teamSelectTF.SetString("text", "Select a team");
break;
case 'joinBlue_Btn':
joinBlueBtn = GfxClikWidget(Widget);
joinBlueBtn.SetString("label", "Blue");
break;
case 'joinRed_Btn':
joinRedBtn = GfxClikWidget(Widget);
joinRedBtn.SetString("label", "Red");
break;
default:
break;
}
return true;
}
// This function adds event listeners to the menu buttons, and sets the text displayed on the button.
function SetUpButtonEvents(GFxClikWidget button, string buttonLabel)
{
button.SetString("label", buttonLabel);
}
DefaultProperties
{
WidgetBindings(0)={(WidgetName="teamSelect_TF",WidgetClass=class'GFxClikWidget')}
WidgetBindings(1)={(WidgetName="joinBlue_Btn",WidgetClass=class'GFxClikWidget')}
WidgetBindings(3)={(WidgetName="joinRed_Btn",WidgetClass=class'GFxClikWidget')}
}
Now I'm onto making the buttons actually pick the correct team
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