Indeed, nice work moebius. Would you like a job in Veeam R & D?
I'd also add that there may be other event parameters available - depending on how your 3rd-party Alarm generation works, there could be parameters for VM, for Host, for Cluster....etc. If available from the source event, you can also use them for targeting your custom Monitor.
For example - event parameter 5 could be Host name; parameter 7 could be VM Name; etc. Viewing the event details in nworksEventLog will show the available parameters.