When I was using an external connection to a Roland TD10 I was able to tell MC7 that the events going through that external MIDI channel was a General Midi Drum instrument, and inside the event viewer it would show what drum was being played by name based on that mapping (Pedal Hi-Hat, Acoustic Bass Drum, Pedal Hi-Hat,... )
 
I was wondering if there is way to do that for a MIDI track that is attached to a Cakewalk Sound Center instrument?   For example the event viewer shows D#4 rather than the name 'Ride Cymbal', C#4 rather than 'Crash Cymbal'.  If I could map the display to show the drum being played by name as I can with the external mapping that would be awesome!   Is it possible to do in MC7?
 
Thanks,
Lou

Which event viewer? The event list or piano roll view?
In piano roll, right-click where the keyboard is and select "Use These Note Names Instead" and choose "GM Drums".
That should give you the drum names instead of the keyboard.