I am using the connectfail event, but on the timeout retries, it does not echo anything. The exact scriptlets I used are shown in my first post.
Edit:
It would also be nice if I could get the failure reason, perhaps in $1-.
Eg,
on *:CONNECTFAIL:{
if ($1- == Connection Timed out) {
echo -a This server has timed out
do_other_stuff
}
}