In my WinForms applications I often put the controls text data (form title, labels texts, button captions, etc.) into a .settings (feature automatically generated by Visual Studio - based on the ApplicationSettingsBase class). In particular,

1. Add a form or a control.
2. In Solution Explorer add a new string item into the application scope of the settings file.
3. Bind the control text property with the corresponding item of the settings file (through the property binding).

Good point of this is that all my text data is collected in one place and easy to check and edit. Also it is convenient when I want to use the same text for several controls.

However, I haven't heard that somebody uses the .settings such way. In tutorials for creating multilingual applications, for example, it is recommended to enter texts directly into the control property.

So, is it good practice to use .settings for storing controls text data?

Brief conclusion from the answers:
Storing controls text data in the .settings is not common practice.