You've kinda left out keyboarders too. They'll never see your labels.
But again, I dunno, depends on how important you think it is that people see the labels. You could user-test this by having some moms or whoever view the site. See if most people swirl their mouse around or not.
I've got something on my site that only appears on mouseover, but it's 100% not-important, just an easter eggish thing, so doesn't matter if most people miss it.
If you want more feedback about the site you could also post this over in the Website Reviews section. It does require you review three sites yourself first but you'll get more feedback where people really try to critique the site (if you want that).