Changing Text in the Effects Editor

I would like to be able to change the text/label within the Effects Editor.

In the Level Column of the Effects Editor where the effect has color palettes; it will show e.g., CP1

Is there a way to change this to the Label given to the Color Palette where is would be displayed as:  RED?

I see this Label being shown in other question post here on ETC Community. Is this something that is no longer available in the later versions of Eos? 

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