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*** Sorry, I forgot to set this as a bug, but now I cannot modify it anymore ***
It's much easier to give a look at the picture:
when the dropdownlist is set to error, the red color style of the floating label is overridden by some other (complex) style, resetting the value to the normal gray-ish color.
For comparison, in the picture you can see an SfTextBox, in error, showing the correct color also in the floating label.