Not sure about the notifications from an app bit... We simply use e-mail for notifications based on log events; however, I'm sure you can figure out a way to get that done.
You can configure a Syslog Export Filter (CPPM > Administration > External Servers > Syslog Export Filters) to send batches (not in real-time, 2 min interval) of relavant log bits to a syslog server. You can then use your favorite log watcher application to trigger an event based on your criteria.
Good luck,