Advanced permission notification and workflow

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I see from the documentation that advanced permissions are possible at a fine grained level.
I was interested to know if the permission to approve had any notification API behind it?
For example if an author edits a page but the system admin doesn't want them to publish it, then the page should be a new version that is unpublished.
If the admin(s) wants to approve it, is there a mechanism in C5/API for notifying specific users/groups that pages are waiting for approval?

Coming from Joomla [forgive me]

alanski