Both your apps and snmpwalk can use names if the mibs are properly installed. You do not get to choose the names, though: it will use the canonical names for the OIDs as listed in the MIBs. (How would it know you wanted "number of udp connections" instead of "number of UDP Connections" for example?)

Check the README.mibs file for more info on the MIBS. Since 54321 is not officially allocated, I'm guessing that it is an example. If the MIB is for xyz.com, contact them to get a mib file with the appropriate names.

--traveler