i dont think its necessary to make a on text event like this:

on *:TEXT:*your nick here*:#:{

you can set the use of identifier $me which will return the nickname of the person who is running

an example is use $istok like

if ($istok($strip($1-),$me,32)) 

which is simple, but if you want to use $regex

if $regex($1-,/( |^)\Q $+ $me $+ \E( |$)/iS) 

the alias alerts could be shorter than that

alias alerts {
  echo -a 3Dialog boxes for nick alerts are now turned $iif($$1 == on, on.,off)
  set %alert $iif($$1 == on,on,off)
}