Hmmmmmm.... Well, at the moment I would say that there is none. No way to find induced subgraph of labelled digraphs. Even though for "induced subgraphs of (simple) labelled undirected graphs" we ca manage a trick.
See, the problem is that it is rather hard to design a somewhat efficient data structure for "labelled digraphs". Your problem of "induced subgraph of labelled simple digraph" (*) could be rather well emulated by a "induced subgraph of directed multigraph" (though we can't do that either). And a "proper implementation" should probably deal with non-induced subgraphs as well, and that's where it becomes hell. To deal with that problem we should probably copy at low-level, for each label that you have, the graph induced by all edges having that label.
The more I think about how this should be implemented, the more it scares me.
Nathann
(*) you don't have paralell edges, right?