So, I need my script to behave differently depending on whether "Ignore Event Grouping" is enabled or not. I can't seem to find anything in the Vegas class that will expose this.
My next step is to sniff around the Vegas UI and look for the menu option.
Unfortunately, there is no way to determine this via the Script API. It would be great of more of the preferences were available to scripts as well so that they can be better integrated.