If you create a name using the AFE, then change it using name manager, the change doesn't seem to flow back into the AFE - even if you sync or restarted Excel. You can make a bunch of incremental changes in the name manager, then do something trivial in AFE like rename it and your changes are lost because it reverts to the most recent definition that the AFE was aware of.
Indentation and line breaks are really helpful when viewing in AFE and it is useful that it automatically adds them to names that were created in the name manager. On the other hand, the line breaks are a hindrance when viewing in the name manager. I expect this to cause a problem for those of us that create workbooks for other people to then use and maintain.