Hey guys,
Thanks for the access to beta release.
I think this is a really good feature to have as at the moment there is no way to perform this. The process\service when not running sets the application to down instead of being able to set to Warning or Critical.
One another might be worth considering is also to set the Memory\Page file thresholds to a specific limit e.g. 1.5gig for alerting instead of just % used.