I've not seen anything like this, so I thought others would appreciate seeing the script I've come up with... The script stops events from happening for five minutes, if a timer that runs every 5 seconds starts to overlap when the following occurance of the timer should occur.
Code:
on *:start:{ .timer 0 5 watchdog }
alias watchdog {
  ; Setup a $tick monitoring watchdog
  if (!%~WatchdogOffTime) { set %~WatchdogOffTime 5 }
  if (!%~WatchdogTickCount) { set %~WatchdogTickCount 10000 }
  if (!$timer(Watchdog)) && (%~LastTicksWatchdog) && ($calc($ticks - %~LastTicksWatchdog) > %~WatchdogTickCount) {
    .remote off | .timerWatchDog off | .timerWatchdog 1 $calc(%~WatchdogOffTime * 60) reenable.remote
    echo -a  Disabling all script events because of watchdog. Elapsed = $calc($ticks - %~LastTicksWatchdog)) $+ . 
    echo -a Will automatically reenable in %~WatchdogOffTime minutes.
  }
  else { set %~LastTicksWatchdog $ticks }
}
alias reenable.remote {
  .timerWatchdog off
  set %~LastTicksWatchdog $ticks
  .remote on
  echo -a Watchdog has reenabled event processing.
}

NaquadaBomb
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