I think you need to forget trying to exercise him out of this. It isn't going to work and will just make it worse,
These dogs are bred to be able to run all day, and then run some more. In addition, the more exercise they get, the more they ask for. It's addicitive and habit forming, which is just what you're seeing.
By any chance, do you respond to his bouncing cues by taking him out? Or do you walk him in a regular pattern - ie is it predictable for him?
I know this might make you despair, but he really isn't trained. At all. If he needs a halti to walk to heel, then he hasn't learned the self control necessary to do it; he is being held there by the device only.
His recall isn't strong enough to be meaningful in the face of destraction. He needs to learn to listen to you - no matter what. That takes a lot of time and persistence. Start in the house with a MASSIVE amount of incredible food - hot cooked chicken is good, and a squeaky toy which is only used for this exercise. Teach him that when you squeak, he gets his gob rammed full of chicken. Start when he's calm and in front of you, and slowly build it up to squeaking anywhere in the house and when he pelts towards you, ram in masses of food. Don't set him up to fail though, get it absolutely perfect, it won't take long.
Then extend this onto walks. The special squeaky thing and food. Start when there are few distractions - get it his head. The take a trip to the park or similar and with him on a lead, walk past distractions squeaking. He will look at you - no doubt about that - then ram in food. As this progresses, a verbal correction if he deviates will help him understand what it is you want.
Eventually, you can leave the squeaky thing and the stinky food at home - he will have learned what 'Fido, come' actually means. At the moment, it's a pick and choose command.
With regard to visitors, decide what it is you want him to do when visitors arrive - go to bed and chew a kong, or stand by you on a lead for example, and teach him. It might take a few stooges to set up so you can control the visitors reactions to him, but it will work. My guess is that at the moment, he hasn't a clue what he is meant to do, so he's working it out for himself and getting it wrong. He has visitors praising him for leaping about like a fish, you getting cross with him for it and no doubt it's different every time - all of that translates to encouragement and confusion to lively Labrador. Take control of it, keep it consistent and make sure he understands what he's meant to do.