Please take a look at the MailLogSubclass script library in version 1.0+ of OpenLog, and see if that meets your needs. That is an example of subclassing the LotusScript LogItem class in order to send error and event messages via e-mail instead of to a database.
I've actually had several discussions about whether or not to include this functionality in the base code. My feeling has been that it could cause more harm than good, by not only having the potential to introduce delays in the code (mail can be slow), but it would also become yet another thing that you'd have to troubleshoot if it wasn't working (there are a lot of reasons why mail might not work). In the end, I think people would end up blaming OpenLog for causing problems that are really mail problems, and that would reflect badly on the product.
It also kind of breaks the concept of having all of your error/event notifications go to a single place, which is one of the nice things about OpenLog. Once the errors/events are there, you can add one or more Notification Profiles to be informed of specific things when they happen.
And also, it's so easy to extend the code using something like the MailLogSubclass script library that I'd rather allow people to make adjustments there instead of putting it in the primary codestream.
Hope that helps. Thanks.