Hi Antony,
Short answer, no, unfortunately not... We did however take a different approach and looked at the underlying reasons why certain ESX hosts were suffering failures and a round of patching/upgrades took place. Since which, we've not seen issues...
The issue with the alerting for me was that it's almost counter intuitive in so much as you need something to not happen (and make the distinction out of a set of devices) in order for an alert to generate (vs something happening) and that's what I couldn't quite wrap my head around.
Wish I could be more helpful, if you discover a neat way of achieving this, I'd be very interested in how you did so.
Regards,
Daniel