Here is a little more info.  I checked my hcimonitord file.  Looks OK to me.  The longer alert (Alert #12) never fires.
Any comments or assistance is greatly appreciated.
[aler:aler:INFO/0:  hcimonitord:11/13/2008 11:15:02] New alert #12:
{VALUE lastr} {SOURCE {Inbound_side }} {MODE actual} {WITH -2} {COMP {>= 1}} {FOR {nsec 75}} {WINDOW {* * * * * *}} {HOST {}} {ACTION {{exec {IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – %A. Connection bounced.”}}}}
[aler:aler:INFO/0:  hcimonitord:11/13/2008 11:15:02] can’t read “HCISITEDIR”: no such variable
[aler:aler:INFO/0:  hcimonitord:11/13/2008 11:15:02] New alert #13:
{VALUE lastr} {SOURCE {Inbound_side }} {MODE actual} {WITH -2} {COMP {>= 1}} {FOR {nsec 60}} {WINDOW {* * * * * *}} {HOST {}} {ACTION {{exec {IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – %A. Connection bounced.”}}}}
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:16:07] Alert #13 triggered.
alert: {VALUE lastr} {SOURCE {Inbound_side }} {MODE actual} {WITH -2} {COMP {>= 1}} {FOR {nsec 60}} {WINDOW {* * * * * *}} {HOST {}} {ACTION {{exec {IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – %A. Connection bounced.”}}}}
action: IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – Thread last inbound message received time of Inbound_side has been more than or equal to 1for 60 seconds. Connection bounced.” &
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:16:07] Completed Cascade Actions
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:17:22] Alert #13 triggered.
alert: {VALUE lastr} {SOURCE {Inbound_side }} {MODE actual} {WITH -2} {COMP {>= 1}} {FOR {nsec 60}} {WINDOW {* * * * * *}} {HOST {}} {ACTION {{exec {IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – %A. Connection bounced.”}}}}
action: IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – Thread last inbound message received time of Inbound_side has been more than or equal to 1for 60 seconds. Connection bounced.” &
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:17:22] Completed Cascade Actions
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:18:37] Alert #13 triggered.
alert: {VALUE lastr} {SOURCE {Inbound_side }} {MODE actual} {WITH -2} {COMP {>= 1}} {FOR {nsec 60}} {WINDOW {* * * * * *}} {HOST {}} {ACTION {{exec {IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – %A. Connection bounced.”}}}}
action: IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – Thread last inbound message received time of Inbound_side has been more than or equal to 1for 60 seconds. Connection bounced.” &
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:18:37] Completed Cascade Actions
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:19:53] Alert #13 triggered.
alert: {VALUE lastr} {SOURCE {Inbound_side }} {MODE actual} {WITH -2} {COMP {>= 1}} {FOR {nsec 60}} {WINDOW {* * * * * *}} {HOST {}} {ACTION {{exec {IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – %A. Connection bounced.”}}}}
action: IMalerts_jtz.sh sitejtz tst_pro Inbound_side IM_Alert_Last_Recd “$HCISITEDIR – Thread last inbound message received time of Inbound_side has been more than or equal to 1for 60 seconds. Connection bounced.” &
[aler:aler:WARN/0:  hcimonitord:11/13/2008 11:19:53] Completed Cascade Actions