To get more detail into a Replication Workflow - you can look at writing a custom AEM workflow step. Then within the custom step - use the Replicator ("The Adobe AEM Quickstart and Web Application.") API. Notice the parameter based on the ReplicationOptions object. Notice that you can set options using this object.
As smacdonald2008 had mentioned you can create a custom workflow step instead of using the ActivatePageProcess:
1. Create the custom workflow step as documented here.
3. Now the activation itself won't create the version, in your custom code before calling Replicator.replicate you can call PageManager.createRevision to instead create a version of the page with your custom label.
Thanks for the information all, much appreciated.