It works nicely if you are used to a nickname-based scheme, but as stated previously, I'm an address-based programmer.
It sounds like you are both, meaning that whenever you use a new element, you want to document it immediately. Hence, the CreateNickname mechanism can work just as well as what you are doing.
When you come up with a new alarm bit, you know you need it to go to C1673, and that it is the "Mach123OverTemp" alarm. Instead of entering
C1673 in the instruction parameter field
then hitting F9 for the Element Browser,
then entering Mach123OverTemp for the nickname,
enter Mach123OverTemp in the instruction parameter field
finish editing any of the other parameters (including new undefined nicknames), hit Enter to enter the instruction,
the Create Nickname dialog will automagically come up for each and every "new" nickname, then just select the 3rd option "...assign to specified element" and assign it to C1673; the Create Nickname dialog will continue to pop-up for each and every "new" nickname (but the radio button will default to the last choice, so you won't even have to select "...assign to specified element").