What is the most common way of monitoring devices belonging to a bond?

Issue

What's the best option to properly monitor bonding devices (master & slaves).

Is there a way to generate alert whenever a nic belonging to a status change for any version of Red Hat Enterprise Linux (RHEL) above (and including) RHEL4?

If the format of /proc/net/bonding/bondX is guaranteed to be constant between release, the following bash script should work :

for BONDINTF in $(ls ${PROCDIR}/*)
do
    for DOWNIF in $(awk -F\: 'BEGIN{x=""};{if ($1 == "MII Status" && $2 !~/up/ && x != "" ) {print x}}; {if ($0 !~/Mode/) {x=$2}}' ${BONDINTF})
    do
      # generate an alert on $BONDIF about $DOWNIF
    done
done

Is it guaranteed to work on any version of RHEL ?