While I understand that the Layers HUD window is resizable, I think that more could be done with the present space available for text labels.
Presently the line of text for a label is centred, and looks like there is equal spacing above and below, for a possible three lines of stacked text.
Starting from the centre the second line could push the text to the top (which means the layer above will be uninterrupted, unless three lines of text exist), with the third line filled in last.
What do you think?
What features would you like to see in Pixelmator?