Can I modify my Hole Callouts to read something custom

Yes you can.

There is a text file in the SolidWorks/Lang/English directory called "calloutformat.txt"

Open that file in Notepad and save it out to a new name to make a backup copy. In this rather large text file is the format in which each specific hole type listed in the Hole-Wizard.

The format of each hole entry is this"

HOLE_TYPE=<symbol><hole diameter><depth symbol><depth value>;/
<counterbore Information>

*hole option1*= <information for that hole option>

The information in the <> signs are calls to specific dimension names or symbol identifiers for example <MOD-DIAM> = the diameter symbol

You can type in any text you like in between the <> infomation or you can remove info from the callout as you see fit.. but as you might guess.. this is a long file and could take you some time to complete!

Here is an excerpt from the txt file so you can see how it is laid out.

---------------------------------------------------------------------------

COUNTERBORE-BLIND=<MOD-DIAM> <hw-diam> <HOLE-DEPTH> <hw-depth>; <HOLE-SPOT><MOD-DIAM> <hw-cbdia> <HOLE-DEPTH> <hw-cbdepth>
*with underhead csink*
COUNTERBORE-BLIND(csms)=<MOD-DIAM> <hw-diam> <HOLE-DEPTH> <hw-depth>; <HOLE-SPOT><MOD-DIAM> <hw-cbdia> <HOLE-DEPTH> <hw-cbdepth>; <HOLE-SINK><MOD-DIAM> <hw-midcsdia> X <hw-midcsang>
*with nearside csink*
COUNTERBORE-BLIND(csns)=<MOD-DIAM> <hw-diam> <HOLE-DEPTH> <hw-depth>; <HOLE-SPOT><MOD-DIAM> <hw-cbdia> <HOLE-DEPTH> <hw-cbdepth>; <HOLE-SINK><MOD-DIAM> <hw-nscsdia> X <hw-nscsang>, <hw-msgnearside>
*with near and underhead csinks*
COUNTERBORE-BLIND(csnm)=<MOD-DIAM> <hw-diam> <HOLE-DEPTH> <hw-depth>; <HOLE-SPOT><MOD-DIAM> <hw-cbdia> <HOLE-DEPTH> <hw-cbdepth>; <HOLE-SINK><MOD-DIAM> <hw-nscsdia> X <hw-nscsang>, <hw-msgnearside>; <HOLE-SINK><MOD-DIAM> <hw-midcsdia> X <hw-midcsang>, <hw-msgmidside>