Yes,
I do this with my Drive errors from servo drives and VFDs. What your doing already is fine and workable.
you can send your error codes to a dro then send a messgage from the macropump depending on the value to match your error.
I recommend sending it to a ticker. Also, in you code you can do buttons depending on the error from the macro pump
Like if your error is for example 15 and that means you have an overload, then have your macro pump look at the target dro and if it matches 15 send a message, and a DoOEMButton(1021) 'estop.
in your Macro pump you can do a "interlock" (I have an exapple of an interlock in macro pump in the VB section search it), in your macro pump that watches the Reset LED, for sending you reset signal to your drive.
IMHO, it would be best to do this in a plug in, that way you could avoid some of the issues that SOMETIMES occur in the macropump. I would recommend trying out Eds New Plugin Wizard, if you ready for that kind of stuff, if not then macropump is the way to go.
scott