I have done this before but having not used Courselab for a while I have forgotten how to hover over text or an agent and have a balloon with text appear for the direction of the hover. I recall being able to have info appear on hover or on click but I simply cannot find it anymore. Can anyone help please?

Try setting an ACTION for the object, this will need to be an ON MOUSE OVER event.
How it works from there is up to you really.
You could open the page with a pop up balloon hidden when the page loads, then use the show hide action set to make it appear and disappear. I tend to favour this as it is already 'there' so pops up instantly.
Oh remember that some of the 'decorations' (arrows, boxes etc) on 2.4 use M$ specific routines so only work on the IE series browser