To my opinion, in case of the Cyclone soft LVDS, the meaning of some MegaWizard and MegaFunction parameters isn't as clear as it could be. The reason for this fact is mainly in the complex ways, these IP is implemented. In some cases, you can set other parameters when instantiating the MegaFunction manually. But you should always check the results, e.g. by Quartus Simulator.
Because Cyclone LVDS MegaFunctions are basically made from DDIO cells, a PLL and some registers, it's can be straigthforward, to implement the respective function by yourself. This is necessary anyway in some cases, e.g. if you need larger deserialization factors than provided by the MegaFunction.