BasicLabel has ValueScaleFactor, I don't think the analog display does, which is weird. You could use the BasicLabel.
I think you are stuck to writing code for changing colors on BasicLabel, something simple like this would work...
Private Sub BasicLabel2_ValueChanged(sender As Object, e As EventArgs) Handles BasicLabel2.ValueChanged
If BasicLabel2.Value > 5 Then
BasicLabel2.BackColor = Color.Beige
Else
BasicLabel2.BackColor = Color.Coral
End If
End Sub