Maybe it's that I'm simply in the wrong field, but until a couple of years ago, I wasn't at all used to seeing settlement agreements in which each of the parties deliberately used fake names on these documents. Yet nowadays, I stumble across a non-trivial number of cases where, yeah, that's apparently an accepted and common practice.
Take this opinion from earlier today, for example. Personally, I've never heard of the actress in this case (Charlotte Kirk) -- though, apparently, things involving her caused quite a stir in the movie studio world at some point. To keep everything quiet, the parties used completely fake names on all their underlying legal documents. To no avail, ultimately. As this latest published opinion (using their real names) amply reflects.
I know the whole "confidential settlement" thing is a hot topic these days. There are definite upsides and downsides to the practice.
Ultimately, just remember that even if you think the stuff is supposed to remain confidential, that doesn't always end up being the case.
No matter how much you try and how many lawyers you employ.