Yup...that's what you have to do.  But "labels" are important when routing and if you've ever worked with EZDrummers output mixer or any one of many other VSTs you'll scratch your head over the design of NI's output routings.  And the confusing "save as default" thingy is for the birds too.  I love a lot of NI's stuff and own most of it.  But their Kontakt mixer is el-sucko IMHO.

But "labels" are important

Not really - the 3rd one down is the third stereo pair ;-)

What if it were "labeled" Adam's Off Ox instead of Aux 1???  Pffft.

Well, what if you could RH click and call it whatever you wanted? Now there's a concept.
 
I just tried my best - but I can't see any way to change these names...