There is a feature coming in HUM 1.2 (part of LMS 3.2) called TrendWatch. TrendWatch will allow you to apply more granular rules to templates and thresholds. However, it won't really give you what you want in terms of threshold hysteresis. Unfortunately, the threshold configuration is not changing much in HUM 1.2.
The best you can do to control the threshold generation now is to set the number of violations to a count greater than 1. Of course, this doesn't work like the rising/falling threshold system, but it can help alleviate some event duplication.
As an alternative, depending on the device and MIB objects in which you're interested, you might consider setting up RMON events and alarms in CiscoView's mini-RMON Manager. That ha sthe capability of doing rising/falling thresholds.