Not sure if this would be possible but would some kind of timer for MIDI recorded Undos work? Two closely related ways that may be possible.
Renoise now seems to know that a MIDI value has changed, so it creates a Undo point. Currently it is creating one at each point (or is it even sub-points/ticks as I’ve read happening in the past as MIDI updates/ppqn is higher value than the Automation Envelope?)
Anyway what I was thinking is some way of coding a limit on the time between which MIDI related Undo points can be created. Say every second or maybe longer? Renoise knows a MIDI value has changed, while this is changing it can compare current and previous value and if different record the Undo point on polling every second. Second option would be the exact opposite. On MIDI value change do not record an Undo but flag CC, poll every second and on detecting two subsequent value as being the same record the Undo point with all changes in it.
Not sure if that makes sense but hopefully something to think about…