It is possible to create measures that do recognize direction from a given reference. You must create the measure in "Standard" mode first,and you must have BMX (Behavioral Modeling)as well. Since this is a cam contact point location you wish to track, first create an analysis feature of a distance measurement between the two surfaces that define your cam pair. Inside this measure dialog, check to make sure you create either the "from" or "to" point. This will make a datum point that will always be located at the contact of the two cam surfaces. Next, create a coordinate system that orients and locates one of its axes to point in the direction you wish to measure along. Now, create another analysis feature (distance measure) between the cam contact point and the coordinate system and make sure you select "projected" distance as an option and select the same coordinate system as the reference. Before you close this dialog, make sure check the box to record the projected distance in the direction you need to track (my example is in the "Y" direction). MDX/MDO will automatically track this measure and return positive and negative values for the distance since it's WRT a co-ord direction. My example below shows the non-signed measure and the directional, signed measure plotted together for a cam pair.
The only time this will, in a sense,"fall apart" is if your cam surfaces separate (enable liftoff selected). The measure will still work for this case, but it obviously won't give you the same info.
Cheers,
Chris