The simplest thing is just to have a separate string for each one. Your proposed alternative doesn't work for languages where the "set" verb would go at the start or the end of the sentence.
It is possible to use parameterized l10n strings like "{title}: {value}" but then you end up reusing the title that appears in the menu for the title that appears in the notification, and localizers prefer to keep separate strings separate because when there are different amounts of space, they need to be localized separately.  

Therefore, I think the one string per option is the right way to go here.