after you got the new item updating with the current state of whatever you are monitoring, you can use additional rules to trigger on events there and again execute some logic. That's the real beauty of the automation how it is encouraged by openHAB. I'm sure you are fully aware of that, just wanted to state for others.
You posted your solution for SMS notification and that's great. If you want to contribute it for others and are also looking for ideas on how to optimize it, it's probably better you open a new thread
I'm btw using Pushover, which is a good alternative to SMS if you own a Smartphone.