You can't really EDIT the labels.
to "keep it simple" I'd suggest using the input text views.
That way you can copy n paste n edit all or a single character
taking advantage of the built in functionality of Andoird.
i.e. so you could go ahead and use the Android Keyboard.
(or maybe thats what you want is prevent the Adnroid keyboard from popping up
so you can use your own simplified keyboard? If so, my suggestion is don't.
As the pop KB is there to save on real estate.)
Another way is to have a grid list of items for display purposes taking up the entire screen.
And use a popup type screen layout for input and edit text views for data entry.
That way you could have say a hundred items.
You'd be able to scroll thru them with the grid list view.
Double click on a grid list view item and edi it using the popup dialog.
As in the drilliant dialog libraries here (popup for edit input data entry):
http://www.b4x.com/forum/additional-libraries-classes-official-updates/6776-dialogs-library.html
hth