Thanks for that. When I entered the code, it automatically indented the code for me on the next line:
func onbuttonpressed():
getnode("Label").set_text("HELLO!")
func ready():
getnode("Button").connect("pressed",self,"onbutton_pressed")
*its not showing the indent in the preview here but it's really indented
So, I don't understand where my mistake is. I have the label and button as children of the panel, added the script to the panel. I'm just not sure if I'm missing something, but I could have sworn I followed each step precisely. Hmm, stumped here.