gswitz
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.

scook
There is a workaround for the automation label problem in X2. Drag the effect into the FX bin, set up the automation and drag the effect back to the PC.

Noel Borthwick [Cakewalk]
We fixed a bunch of issues with parameter labelling in X3. If you still see problems with params from FXchains please send a bug report and list the number here.I agree that it would be nice to have editable labels on automation lanes. Send in a FR for it.