is there a way to monitor specific vm windows services and alert based on up/down?
At this moment, this is not possible.
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The vm's should support SNMP so that Ionix can discover and monitor for this, or it should come with a Hyperic agent capability for service monitoring.
As gradinka said, it's not possible at the moment. But by looking at the extended offerings with vCops like Navigator and config Manager, you would think this next level of monitoring won't be too far away.