Ok so I am not really seeing this working. I am not received any emails and I do not see any events under alerts.
On the controller I see this
show snmp trap-queue
2012-11-07 09:32:06 BSSID 00:0b:86:79:d0:b2 on AP (00:0b:86:cf:9d:0b::2) is up
2012-11-07 09:32:06 BSSID 00:0b:86:79:d0:b2 on AP (00:0b:86:cf:9d:0b::2) has changed. Change type is 1
show snmp trap-list | include NAP
wlsxNAPMasterStatusChange Yes Enabled
and I have attached a screenshot of the airwave trigger setup.