Assume you're playing as the King of Denmark. You're busy bringing the gospel to the heathens in the Baltic, but you need to be ready if an opportunity presents itself in Sweden or Saxony.
So how about this: You select the Swedish king and the submenu "Flag Character". Here you select that you want to be notified if he dies and if his spouse dies. So you're ready to either take advantage of a weak heir ascending to the throne or marry your daughter to the grief struck King.
I realize that the current notification settings probably can inform me of this already. But I don't want to be notified when the King of Far-Awayistan loses his wife. That's just information clutter. I want to be able to select the rulers around me and select for which specific events in their life I need a special notification.
Now, is that a great idea or a grand idea?