Can you use the same dynamic text field in two separate frames?

I have a button (movieclip) that I want to make multiple instances of with different labels. I have a dynamic text field in the movieclip, and a second frame for the rollover state.

I also created a dynamic text field for the rollover state and gave it the same instance name as the first one. Shouldn't it display the same text across both states?

I can post code if needed.

Thanks,

Ogaac