There is no label printing function for now. Copy/pasting to word would be an option yes.
Otherwise, some payment gateways, like PayPal propose you to print labels form the address entered by the user:
www.paypal.com/shipping
You can change the english terms by editing the translation file as explained here:
www.hikashop.com/en/download/languages.html
For the countries, you can usually leave them in English. All posts over the world handle packages with the country name in their own language and english. Nevertheless, you can change the countries names via the menu System->Zones.