I'm somewhere between a novice and an intermmediate programmer. Having said this, over the years I have become pretty proficient and finding shortcuts / "easy-ways-out" to accomplish various tasks form my software development needs.
There are a couple of programs that you can use with vlc to get the information you want. AUTOMATE (not free, but EXCELLENT piece of software with a GUI interface) & AUTO IT (a FREE/open-source version that is script-based-No GUI). The biggest difference is that though AUTOMATE is simpler to use initially, the free AUTOIT allows you to create .exe,.dll, acive-x, com objects, etc, which allows you to incorporate into your scripts and programs. I LOVE AUTOIT!
Both of them come with a Window inforfation tool that can read all of the information on a programs UI, including the "timecode values" (even if the windows are hidden). They would definitely be able to detect the time code value, and even execute an event when the time reaches a certain value...
AUTOMATE -
http://www.unisyn.com/
AUTO IT -
http://www.autoitscript.com/autoit3/
-kaanuki-