Ok so I'm trying to setup the Baits and hooks...

Here's what I'm trying to do,

Bladebone Hook ,use every 60mins

And the bait, use every 10mins in order if in bag and skip if I don't.

Mossgill Bait, Jawless Skulker Bait, Fat Sleeper Bait, Blind Lake Sturgeon Bait, Fire Ammonite Bait, Sea Scorpion Bait, Abyssal Gulper Eel Bait, Blackwater Whiptail Bait, Felmouth Frenzy Bait

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Would I use "Temporary Bait" for the hook and "Custom Spell/Item Name" for the baits, and change the times accordingly?

Hello, yes you can use hook/bait like this: 

Mossgill Bait ; Jawless Skulker Bait ; Fat Sleeper Bait ; Blind Lake Sturgeon Bait ; Fire Ammonite Bait ; Sea Scorpion Bait ; Abyssal Gulper Eel Bait ; Blackwater Whiptail Bait ; Felmouth Frenzy Bait

Bladebone Hook