Ops... I'm not sure that you start your project from the good side.
Problem #1: "You cannot do something while doing nothing" - and in this case it means that you can not open one vi with a button on another while none of them are running. Minimum one MUST be already in run mode in order to supervise changes in controls. May be it can be some kind of a third vi that opens both vi's when starting up. Also, I see that your Mini-Loop IO MUST be configured before the application starts in order to supply valid configuration data to its outputs (Some kind of dialog with user, so while loop and Ok button when finished). Think about deviding your project in a "configuration phase" and a "work phase".
Also, for you may be there is no
need to use references - to open front panel of a subvi when it is called you can set this flag in vi's properties dialog.
And, BTW, it is more simply to change directly a button boolean text then placing a label above one.
Sorry for my poor english