Version: SeeMusic 4.0.3, Windows 2.2 GHz, 16 GB RAM
I believe that the note label opacity slider range should be between 0 and 100, but for my case, it's between 0 and 1.
I managed to reset the Note Label Opacity to the default 100 and note labels are then visible. However, moving the slider or typing a new value will cause the maximum opacity to be 1 again, resulting in invisible note labels.