Hi Sam,
I do not know if this will work but I believe it is worth trying.
Please let me know if this works!
In the attached VI, I used an "Automation Open" to get an Automation Refnum. This refnum is then passed to a "Create ActiveX Event Queue.VI" and identified the "OnDataUpdated" as the Event name. The returned Event Queue is then passed to a "Wait on ActiveX Event.VI".
This looks like it may be what you are looking for. If it works I would suggest you wire up a timeout value and check the returned time out boolean to determine if you get a good update.
PLEASE let me know if this works!
Trying to help,
Ben