Good move on putting this out there. My initial reaction to the request from Chris was that there was no built-in way to “map” trap data in SolarWinds. Hopefully your question will get some immediate feedback.
Traps can be tied to external nodes (tried, works)
Traps can also change the state of INTERFACES on nodes (not useful in this case)
Traps can run external programs (not tried)
External programs can update the database (tried)
You could use the SWAPI to change the status of a node to down.(not tried)
Following up on my own post, in case it's useful to anyone else. And thanks for the suggestions, RichardLetts. We decided to go with a custom report which shows traps (filtered by a SQL query) which have arrived in the last 30 minutes. It displays as a resource next to the network map. It does not display much detail other than site name (we used Regular Expressions to tie IP ranges to sites), but it's a visual indicator on the big screen telling staff to check email for a detailed alert. We'll see how it pans out when we go live.