ChipScopesoftware offers the ability to view buses in the Analyzer waveform viewer using names listed in a token file. See the ChipScope Pro User Guide for more details.
If you are analyzing the values of a state machine, you can use the state enumeration names in your token file. For example, if you are synthesizing a VHDL design in XST, you will see the following information in the report (.syr) file:
State | Encoding
If using Verilog (or VHDL without enumerated types), use this final encoding report to determine the mapping from each state to the optimized state value. You can use this information in your token (.tok) file like so:
Finally, load this token file to the bus that represents the state register of your state machine by selecting a bus, then choosing Bus Radix -> Token from the right-click menu.