Needed to figure out how to fix the hover or floating text that I use for some of my storage objects (specifically, something I call my “tansu” organizer. However, this didn’t really seem to solve my problem; the hover text is stubbornly too high above my prim. Ah well.
The text will always be positioned to float straight up (parallel to the world’s Z-axis) from the prim’s center at a distance of half the prim’s Z scale plus some fixed offset.
The float text uses the prims Z axis regardless of it?s rotation. This means that if you rotate a prim 90 degrees and flatten it, the text will float just above the center.