I'm not sure if this would be of great use (for many users) because those params are already very cryptic (a-f). It would need some general improvement to allow proper naming. But, I do not know formulas with such many params, each with a proper name. (I mean something like "amplitude", "phase", "damping" and "frequency" for an oscillation, for example)
It would probably also slow down the UI a little bit. Can you provide some examples?
Example for knots3D preset 17 xformula I can only use 8 variables/params
param_a*cos(t) + param_b*sin(t) - param_c*cos(2*t) - param_d*sin(2*t) - param_e*cos(3*t) + param_f*sin(3*t) - param_g*cos(4*t) + param_h*sin(4*t) -11*cos(5*t) - 12*sin(5*t) + 4*cos(6*t) - 19*sin(6*t) + 12*cos(7*t) + 2*sin(7*t)
so if I wanted to animate more than that I can not.