You can change alarm priorities and display names in the alarm configuration. To open it, select Administration → Alarm configuration in the main menu.
On the alarm configuration panel, there is a list with all possible alarm types. For each alarm type, you can set a priority (lower means “more important”) and a name which is used in the rest of the application.
Alarm priority settings affect the order of alarms in the alarm list and the alarm displayed as the most important of a group (of alarms from one site). See Alarms for details.
Among other things, you can change display names to translate alarm names into your language.