No, the Station Offset Annotation command does not rule the information dynamically to the alignment from which you are annotating. If you have the InRoads Pencil Model (or the Pen Mode with Delete Ink ON), you can run the Station Offset Annotation command and it will delete the old annotation and display the new annotation.
Another option you can try would be to annotate these points using Drafting Notes > Plan Notes. You can create the notes to display Station, Offset, and Name. When changes are made to the information you can run the 'Update Plan Note' and it should update the note with any changes.
