databinding labels to a public property

Question

I am trying to get the backcolor of a label change based on the value of a public property in another class.  All of the public properties I am working with are boolean values which essentially represent whether a switch is on or off.  So I want the backcolor on the label to be green if true (on) or red if false (off).  One way I thought of attacking this problem was to create a timer which calls the property get method and updates the text accordingly.  But wouldn't databinding be a better way of approaching this?  And if so, how do I bind the label.backcolor to a boolean value?  I have never worked with databinding before, and I know it is generally used with databases, so I am not sure if this is possible.  Any ideas?


Thanks,

AA MEZA