When referring to seizures, would "loss of consciousness" be better described as "alteration of consciousness"?

Depends: Seizures can be partial or generalized. These categories mean either without or with loss of consciousness. It is important to note a seizure can be very short in duration so the loss of consciousness may be so brief and one is often sleep or fatigued following a seizure so that may be perceived as an alteration of consciousness.

In my opinion: Since seizures vary in character even in the same patient, we prefer to characterize as "episodes of altered consciousness", especially in reference to focal episodes. In the case of "Grand Mal", events, these are full loss of consciousness spells.