As far as i used it yes. The only thing needed is the key and your wallet is recognized and the labels attached to the addresses and transactions are stored and recovered.
Thanks, I tried it and it just worked like magic!
(remember to restart Electrum after enabling the labelsync plugin)Though its of course that your labels are stored at a server, so centralized risk. I would prefer having the possibility to specify a file on my computer, i would store it in a cloud directory, and let my labels sync there. I would at least avoid that additional risk. I mean server owners has to give out the details when asked, especially in the US.
True, but the documentation says the labels are encrypted on the client side before being transmitted to the server. So there is protection, it's not like the information is stored in clear text on the server.