OK, this might provide a process....
Create the Pipe Network(s)
Export use the Reports Tab, run the Structures Report, take the Northing, Easting and Invert data into a TXT file.
Import this information as Figure Lines, create feature lines representing the Outer walls of the pipes, (name them well)
Then you can Break the feature lines where there cross, then using a General Note, Segment End Z, or Segment Start Z it will label the elevations for you....
It isn't exactly elegant however it will do what you needed....