The Events view displays current alarms of the connected device. If you have appropriate access, you can also acknowledge alarms.
There are two types of alarming in PXC.A: intrinsic alarming and algorithmic alarming. Objects that use intrinsic alarming can be configured to indicate when they are alarmed by using internal extension properties. Objects that are tracked by algorithmic alarming need an Event Enrollment object to monitor the object for a change in the monitored property. Both alarming types can use a Notification Class object to notify the recipient lists about alarms and events.