Colored labels have become incorporated into Mavericks tags, so if you used them, might behoove you to just use a tag with a name rather than just the color. Especially since you'll have a very limited number of colors. And since tag strings can have more than one color, you may get a mess if you're not disciplined. And the color per se isn't spotlight indexed, but the name of it "green" is. All probably more confusing if you assigned names to your labels.
In any case, I don't think Mavericks really does much to make people wanna using tagging, which can be very powerful, especially given the limitations of the file system Apple uses. And its one way out of the primitive outdated desktop metaphor they've now been stuck in for over a generation. Take a look at applications like Yep, Leap, Default Folder X, DevonThink, MailTags, HoudahSpot and others to see what tagging can really do.
Fer instance, I can link all my client's info with a tag with her name: emails, pictures, contact cards, Word documents, websites, etc. Given the diversity of file formats, it would be impractical if not impossible to keep all that in a folder called "client."
And see this part of a Mavericks review if you wanna know more:
http://arstechnica.com/apple/2013/10/os-x-10-9/9/
I have organized/am organizing my files quite carefully, plus I have spotlight to find my files. These are holding me back to use tags.
