How about one that you can use as a copy in-place of your path object, with a linetype that just has the text inclusions? This definition:
A,0,-8,["text",STANDARD,x=-1.125,y=.5,s=1,u=0]
does this:

The dots lie along the path, so they get buried when used as follows:
If I have the green path [Polyline] here, Copy that in-place, and change the linetype of one of them, I get this:

So they can be on different Layers, or on the same Layer in different colors, even different linetype scales, or whatever you like. [The green part is in a linetype I happen to have with arrows -- it can be anything.] All those differences could be programmed into property assignments in a defined command.
You can play with the spacing vs. height vs. offset from the path, and with the X offset depending on the length of the actual content and style of the text piece. [It does have what may be a drawback for you, in that it requires a separate linetype definition for every text content you would need.]
Kent Cooper, AIA