I'd be interested in a fix too, it happens to me as well.

Steps to reproduce problem (Windows XP SP3, Fences v1.01.143):

Right Click on My Computer > system properties >
Advanced > Performance Options > Visual effects >
untick use "drop shadows for icon labels on the desktop"

I do this so that the icons on my desktop have a label with a background colour

(the background colour can be set in Control Panel > Display Properties). 

My desktop background has both dark and light parts to it , I do this for better contrast. 

Fences now only has the Quicklinks icons with white text, all other icon text is blue. 

Note I am talking about the **icon** label text itself, not the text for the fences labels above the icons

(l know that can be set in the Fences menu "Change label text color").