Hi Joel...
This is actually somewhat possible in the released version. If you set a label for that layer in ArcMap and use a single field (i.e., not an expression), we'll take the value of the field and append it to the feature class alias name in creating the waypoint name.
For example, if I had a layer whose feature class alias name was "Tree" and an attribute called "CommonName" that I used to label the features, I would end up with waypoint names like:
- Tree Oak
- Tree Maple
- Tree Cedar
I should add that labeling does need to be turned on for the layer as it's not enough to just set the labeling properties.
I realize that that may not be sufficient for your requirements. If we did keep it tied to the layer's Label settings (or perhaps more simply, the Display settings), would it help if we also gave you the ability to turn off the inclusion of the layer name (technically, the alias name of the feature class)? Then you'd largely end up with the same as what you get with shp2wpt...which ironically, yes, came from the Trimble Positions team.