I think that is a great idea. Perhaps Feds could have their titles as being Lieutenant as it's one that everyone will have.
Another title that can be obtained easily is Separated which is obtained by receiving 500,000 disruptor damage to your ship.
The title Moist can be obtained by doing the mission "A Light In The Dark" and rescuing Celestara Mex. needless to say this would be quite a funny one to have as most people do not like the word moist.