How to run the 32-bit Labeler.mbx tool in MapInfo Pro 64-bit

Products affected: MapInfo  MapInfo Pro™
The Labeler MapBasic tool is a 32-bit application and has not been re-written for use in 64-bit versions of MapInfo Pro and therefore does not appear in current shipping versions of MapInfo Pro 64-bit.
The tool can be found in the Tools folder of 32-bit versions of MapInfo Pro.  
Although this tool has not been officially tested and supported for use in MapInfo Pro 64-bit,
the labeler.mbx tool can be loaded and run in Pro 64-bit. 
When the tool is run in MapInfo Pro 64-bit, it will appear in the Tools "Running" tab as expected and users can right-click on the labeler entry in the Running tab to load the tool, as well as read about its functionality:

User-added image

For users who do not have access to MapInfo Pro 32-bit, an EVAL version of MapInfo Pro 15.0 32-bit can be downloaded
from here for free to allow users to install and then access the 32-bit tool in question:

Although this tool was not tested and is not supported to run in MapInfo Pro 64-bit, the tool appears to function normally.
UPDATED:  May 16, 2018