You can’t monitor alarms via DB Studio, but there is a Diagnostics Monitor utility available. It’s part of the Inter-Tel installation package, but might not have been installed on your PC. If you have the original CD, it will be there. You can keep Diagnostics Monitor running in the background on a computer, logging system data to a text file. That’s about the best you’re going to get.
Inter-Tel did release a product called Service Manger about 10 years ago that would monitor and email system alarm messages. It was short-lived and not all that widely used, and never did receive the support that it deserved.
That’s one of the problems with using an older system past End of Life support. The latest platform, the HX-5000, has great diagnostics available including emailing system alarms.