I don't believe this is possible, and I haven't seen it on other SCADA systems either.
It seems like it would be quite a large performance impact for negligible operational improvement (if at all).
If you go the route of 'create out own custom alarm list' you should expect that you will lose functionality that the standard alarm list / alarm banner has by default (i.e. Alarm Banner scripting, standard context menu etc).
You can add them back in with a custom context menu (I would expect there may be a few that this can't be done with however), but it will be quite a bit of work to do.
Lead Control Systems Engineer for Alliance Automation (VIC). All opinions are my own and do not represent the opinions or policies of my employer, or of my cat..