Simple enough: 
 
1) Load an effect in a ProChannel FX Chain
2) Create an automation lane and assign a parameter from that effect to it
 
How is the parameter labeled on the automation lane? Is it labeled correctly, or does it say something wrong like "Volume" or "Pan"? 
 
In previous X versions, automation lanes that are assigned to parameters of effects loaded into ProChannel effects chains are not labelled with the correct parameter and just display something generic like volume or pan. It's a really annoying bug which makes it impossible to tell which automation lanes are which if you're automating a lot of parameters in PC FX Chains. It's going to be a major factor in deciding whether or not I'll upgrade, and I don't think I can wait for the demo to find out! Thanks in advance. 

If you zoom WAAAAY in you can see it... the name of the parameter. The hover tip on the envelope when envelope lanes are collapsed also says the name of the parameter. When I add Low Pass Frequency, it shows the value in Hz. The number does not have commas but at least it doesn't say 80% haha.
 

Thanks for looking gswitz, but is the effect in question loaded into an FX Chain in the ProChannel? It appears to be the PC-CA-2A. Now - is that the VST version that you have loaded in an FX Chain, or is it the ProChannel module version? Because if I select a parameter that's in a ProChannel module (like the basic PC2A leveler which I have), it shows the parameter name correctly. 

Here's what I mean. You can see I have Valhalla Room loaded in an FX Chain. The automation to the right of it is assigned the "Mix" control of this effect, yet as you can see the lane is labeled "Volume." 

 
 
 

It seems to depend upon the Effect in the PC FX Bin. In this example, it shows the name of the parameter in the Sonitus Compressor, but when I used automation read on the Sonitus Delay to create envelopes the all had a : then a value like 30%.
 

On the other hand, in the envelope lanes, it seems to have useful (if truncated) information. Hovering over the attribute gets a tool tip with the full value...
 

 
 It would have been a home run if they had substituted the empty envelope hover tip with the hover tip for the envelope lane name attribute when it was null.
 
X3b?

Not sure if I understand what you mean in the first picture - the tooltip you've circled appears to show a parameter from the PC EQ module and not the Sonitus compressor. And I also get the ": x%" tooltip when the parameter is in a PC FX Chain. I get the full information for all effect parameters outside of PC FX Chains. 
 
In your second image, am I right in assuming that all of those automation lanes labeled "SntsFX" are assigned to the Sonnitus effects in the FX Chain named "Clean Wah"? 

Yes, Sharke.
 
You were correct that at first I didn't understand and just mapped a parameter from a PC effect. <Image 1 with 2 red circles>
 
Then you posted again and said use a PC FX Chain... so I did in Image 2 and 3. In image 2, I show a hover tip for a collapsed envelope (over the wave form). I also say that some of the hover tips for the envelopes for the FX Chain are just : then some percentage value.
 
In image 3, I expand the automation lanes to show all the envelopes and I discover that the names for the automation lanes correctly show the parameters they are automating (even when the envelope hover tips do not). The hover tool tip over the automation lane name does show the full name... this is what I'm showing in image 3 with the typed red text. These are also automation lanes for items in the Sonitus Delay and Compressor in the Pro Channel FX Chain named Clean Wah.
 
Clear as mud?
 
You do still have to shift click on the envelopes in order to be able to see the envelope Hover Tip when Automation Lanes are collapsed.

Sharke, I loaded up a new project and added an fxchain to the prochannel put the lp64 eq in it.
 
Then I was able to go to the automation lanes and choose a parameter from the eq module. It does indeed show the correct name for the parameter but it is pretty cryptic since there is not much room in the name box.
 
However if you hover the mouse over the name it expands and you can tell what the envelope is controlling.

Hi Tom, thanks for checking. I assume you're rocking X3 there?