Nope.
I actually submitted a very detailed DPAR to Mitel years ago on how to use IMAT to accomplish this goal. By using IMAT, all platforms would gain the benefit. It didn't pass muster I guess. For now, only the 3300 (and possibly 2K) can substitute a name other than the desktop name for caller ID. (this was only added very recently)
All other platforms that I know of are capable of doing this including but not limited to Nortel BCM, AVAYA, and NEC. I've given up on making excuses for Mitel on this subject. I encourage my customers to complain directly as common sense doesn't seem to do the trick.
If you haven't guessed by now this is my biggest pet peeve with Mitel by a factor of 10.
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Occam's Razor - All things being equal, the simplest solution is the right one.