6500 has several options for etherchannelload balancing - MAC, IP adddress, port number and MPLS.
If an ethernet frame is received with type equal to MPLS and is to be switched over an etherchannel with load balancing set for IP address will it
a) look deeper in the frame for the IP address or
b) Use MAC load balancing or
c) Do something else.
Look forward to hearing from you.