Turns out that I (albet inelegantly) solved this for myself.
First, I instealled BTEV – the Bluetrait Event Viewer plugin.
Once installed, this plugin creates an RSS feed of WordPress system events. To activate the feed, go to its settings page – turn “External Access” on (this will let you access the RSS feed), copy the RSS feed address, and turn off “Log Warnings” and “Log Errors”.
Now, you’ve got a RSS feed that will tell you whenever many things happen on your blog – including users logging in. But if you’re like me, you don’t care about the many other things that will show up in your feed. This looks like a perfect time for Yahoo Pipes.
Go to Yahoo Pipes and create a new pipe.
You want to set up your pipe to first bring in your BTEV feed, then apply a filter or two to it (my filters were first to Permit any item.title that contained “login”, and then another to Block any item.title that contained my admin account’s login name – because I don’t need to be notified whenever I log in to an account).
Here’s a screen shot of what I’m talking about.
Then – your pipe will magically an RSS feed that only contains login announcements.
It’s a bit convoluted – but most importantly, it works. Of course you could take this further use FeedMyInbox to turn your Pipes rss feed into an email notification every time someone logs in. If you’re doing this for a client, they’re likely to be more comfortable with that than checking RSS feeds.
Anyway hope this can help someone else looking for a solution to the same problem.