The BP API dialog box builds html pages for each object selected from the dropdown. This is based on object contents. I suggest BP builds an API website (perhaps hosted on the local server) with foldering to match the Object studio folder structure, and have it automatically update documentation upon save/import of objects.
Including referenced components in API (or allowing further customization) would be a plus, but a self-updating API website would be very useful especially for larger/federated teams.