You mean descriptive names for Stylistic Set ('ss01 - ss20') features (
http://www.adobe.com/devnet/opentype/afdko/topic_feature_file_syntax.html#8.c).
No, that is not possible with FontLab Studio 5 and with Fontographer 5 neither, but with the AFDKO. With the OT Master it should be possible, but there I am not absolutely sure.
And as far as I know, there is actually no DTP application, which supports the descriptive names, even not the latest Creative Suite. Nevertheless I would add the descriptive names to my fonts, if they contain ss-features.
If it does not work with the OT Master (Probably it works.), give the AFDKO a try. It is really not difficult, especially not, if you create your own batch files, and it eases discussions, since the AFDKO is for free and OT Master not cheap.