It's interesting but I think I haven't made myself clear
What I am willing to achieve is this:
When nothing is touched I display on row 1: Track Name and on row 2 volume value (normal display)
When I play with volume I display on row 1: "Volume" (parameter name) and on row 2: volume value being changed (value monitor) and then after I stop touching it goes back to normal display
When I play with pan I display on row 1: "Pan" (parameter name) and on row 2: pan value being changed (parameter value) and then after I stop touching it goes back to normal display
I thought that monitoring parameter name would be enough to capture the fact that I was playing with the parameter (Volume or Pan) and then display its name but it looks like it is not captured
Also weird thing is if I have 2 controls (a fader & an encoder) with fader set on strip volume and encoder set on strip pan with both their monitor name & value when I create a track it goes through both monitoring states sometimes messing around with what is displayed...