Visual basic 2010 - re-using form

Hello, I'm making a school project.

I have two labels on my first form and on my 2nd form I have a Color dialog, when I double click the first label my 2nd form will appear and it will change color depending on what I chose on my color dialog.

my problem is, when I double click the 2nd label and change its color its not changing, rather the first label is the one who's changing color.

How can I re-use the form using another set of codes ? cause its really a waste of time creating many forms (Cause I have 70 labels, I just gave 2 as an example)

sorry if the question is stupid. im only a newbie :( TIA masters.

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Ann