Hello gaylorcad01,
Conduit Elevation as well as all the other objects elevations are going to be driven off of Property Set Definitions. You can create a new label that will read that information for you. It isn't a perfect solution since its a two step process. However I believe its a really convenient way to use this tool and extract elevations off of your files. I would be surprized if anyone out there in AutoCAD MEP land is doing something radically different.
Apply a label curve style to your conduit preferences.
• Create a new label that reads a Property Set Definition for the elevation (top, bottom, or center)
• Apply the Property Set Definition to the conduit Object after they have been drawn.
I realize this may not make much sense but view this video reply and I think it will cear things up for you.
Conduit Elevation Label Curves Video