Assigning Triggers Dynamically, if Possible?

If you are asking if there is some sort of "text" interface to Keyboard Maestro, no, there isn't.

However Keyboard Maestro itself is highly scriptable, including the ability to create or delete macros. For example, see:

So you could, for example, have a text file with your mappings, and then you could have a macro that created the macros for those mappings (deleting any existing macros first presumably).