The option is intended, primarily, for end condition components, to create connectivity from one station to the next when the template end conditions change.  For example, if you want all surface tie-in points to belong to one feature, then set the feature name of all the ending end condition points on each side of the template to the same name (i.e. all Cut and Fill end points on the right would be given the feature name Tie_R and all the ones on the left would be given the feature name Tie_L).