At the moment, this isn’t something Title to Tags can do. Really, it’s just checking each word against a list of stop words to see if it should _not_ be included in the tags that get created. Teaching it to look out for specific phrases would be an entirely different exercise.
The problem with phrases is simply that there’s no logical way of knowing, from a string of characters, what is a significant “phrase” vs just a word in the series. I’ve had it in mind that I could incorporate Open Calais to look for newsworthy or generally significant phrases. But something like “John Smith,” unless you’re speaking about a famous John Smith, wouldn’t be caught either.
Hope this helps? Would be glad to hear back from you about what your specific needs are?