It would be nice to be able to hide the annotations at the workflow level or the node level.
There could be a workflow setting to hide all annotations, or show all annotations, or show only explicitly selected annotations (Like annotations that have been added or turned on within individual nodes)
Voted. The three-state toggle you described (hide all / show all / show selected) is exactly the right level of control - especially useful when sharing workflow screenshots or doing client demos where internal notes shouldn’t be visible. The per-node override case would be particularly handy for large workflows where only a handful of nodes need visible context.