Yes sure :).
I'll use VMware as an example here. They have APIs presented so that VMware tools can monitor and provide application HA based on a particular application running inside the guest (can be a tomcat server or whatever app)
there are some community scripts that can take advantage of this APIs but there are a few commercial software like Symantec Application HA which use a cut off version of Veritas Cluster integrated with vCenter to configure and monitor application cluster inside the VM and restart VM or the application cluster inside VM.
maybe we can have a feature like that that the guest tools can provided application level monitoring and configuration of the application cluster can be integrated in the engine.