From your question, I gather that you want two things for your caption: Label should be in bold, text should be normal text.
From your code, I gather that you haven't quite decided on what you want. As pointed out by Mico, you don't need to use both \captionsetup{}
and optional arguments when loading the package. Placed in the preamble like this, they would do the exact same thing. You could of course use \captionsetup{}
later on in your document, to change how the caption should be for a single float, like figure or tabular.
Besides, you seem to be setting both the labelfont
and textfont
, when relly you just want the labelfont
changed. If you want to remove changes that was put in earlier, and go back to the ordinary font, use normalfont
. Example:
I also don't see why you overide the compatibility check. It is not recommended. From the documentation of caption
, section 6, Package support you will find the following:
You can override this compatibility mode by specifying the option
compatibility=false
when loading the caption package. But please note that using this option is neither recommended nor supported since unwanted side-effects or even errors could occur afterwards. (For that reason you will get a warning about this.)
Output

Code
\documentclass[11pt]{article}
\usepackage[labelfont=bf]{caption}
\captionsetup{labelfont=bf}
\begin{document}
\begin{figure}[hbt]
\centering
\rule{1cm}{1cm}
\caption{A short caption}
\end{figure}
\begin{figure}[hbt]
\centering
\rule{1cm}{1cm}
\caption{A longer caption, just because sometimes, well, you're kind of stuck with them, even though you really shouldn't.}
\end{figure}
\begin{figure}[hbt]
\captionsetup{labelfont=normalfont}
\centering
\rule{1cm}{1cm}
\caption{A short caption, no bold label}
\end{figure}
\end{document}