Maybe...
You can create the card in the dialog (in the Address window) and then
selecting "full page of same label" will put it on all the labels.
The dialog gives you less formatting options--but I think if you create your
card in a regular Word doc you could copy and paste into the dialog, or
create an AutoText of the card and insert the AutoText into the dialog.
You could also set it up in the first cell, copy to next, then copy and
paste the whole line to all the other lines. (Data Merge has an option to
set up one cell and then propagate the setup to all the labels, but regular
Tools | Labels doesn't appear to, so far as I know)
This page is written for WinWord, but the general principles are similar, so
you may find it useful.
http://gmayor.com/graphics_on_labels.htm
It does have a macro to propagate the setup as you want, but I don't know if
it works on a Mac--it might.
DM