I attempted the following: http://technet.microsoft.com/en-us/library/ff730470.aspx with a target of 'Windows Azure Role Instance' looking for a specific Event ID and Source. I'm not seeing alerts be generated within SCE 2012.
1. Do I have the rule configured correctly for the intended target?
Microsoft is conducting an online survey to understand your opinion of the Technet Web site. If you choose to participate, the online survey will be presented to you when you leave the Technet Web site.