I used to have an addon in WoW that when I was tanking and someone pulled aggro it would send them a class specific whisper;
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You could go in and edit the whispers too, great fun!
This is not possible with the current APIs:
We do not have access to information about a player's target, or target's target, or when those change. (That information may be available as part of the initial release of Lua scripting, but has not yet been implemented.)
We do not have any information about threat. In the event that a creature switches targets for scripted reasons, the plugin could quickly become annoying. (Information regarding threat is not expected to be made available for the first release of Lua scripting.)
Plugins cannot send chat messages. (While they can output text to a player's default chat window, the ability to send messages is not expected to be added for the initial release of Lua scripting.)