Custom Orion Alert

This wouldn't be something you would customize in NPM.  The name that appears in outlook is based on email profiles in exchange, so this would need to be something that you get setup in exchange first. 

So why is there a filed "Name" in that wizard? What is that for if it doesn't appear on the email alert?

It's to be able to have this filled out if you have a profile that can be used.

I have never had to set up Outlook accounts.  The text I have in our email alert actions always come through:

Enterprise SolarWinds <donotreply (at) eaton.com> - this is what our email headers say on node down alerts.

This is the exact "from" field info.  "Enterprise SolarWinds" is what it is the 'Name' field and "donotreply (at) eaton.com" is in the 'Reply Address' field in the Alert Actions for emails.

We do not have any special accounts, however our Exchange servers allow internal emails to be delivered so long as our domain name is included (@eaton.com) so we can use any address and it will pass it through.  There is no account in Exchange for us called 'donotreply', i can put anything I want in there and it will include the Name as well.

Excellent information.  I knew there was something that needed to be done with exchange, but couldn't remember if it was a profile or not.  This option in Exchange would need to be setup and the reply email would need to domain in it. 

The Name and Reply-Address fields can be anything you want them to be.  The Name is the "friendly" name, and the Reply-Address is the email address that gets populated when you reply to the email.  I think if your SMTP server is not set up as a mail relay, it will not work, but most systems will allow you to put your own text in those fields, and they do not need to be valid in your mail system.  Below is what I get when I put "Network Permance Monitor" in the Name field, and "noboby@nobody.com" in the Reply-Address field:

This way, you can customize the alerts with different addresses, and have another way to tell where an alert is coming from.  For example, you can put ${NodeName} in the Name field, and now, you will know which device is sending you the alert.