Editing labels from the planning board or New Bug page brings up the issue selector.

e.g.
1) https://qa-jac.atlassian.com/secure/GetBoardForIssue.jspa?selectedProjectId=12200&selectedVersionId=-1&type=VB&id=96860#card_GHS-1714
2) Next to "Labels: None" click the "Edit" icon.
3) Click the "EDIT" button.

The issue selector is displayed. I expected a list of suggested labels.