1- If i remember correctly, the Alarm Power Management is triggered when a surge or overload is detected.
see configuration parameter 3
2- I have not seen any hints about it being controllable remotely, but it can be configured with different colours depending on load or current "alarm state" (ZWave alarms that is).
see configuration parameter 40, 41, 42 and 43
You can set parameters by publishing a mqtt message like:
cmd/zwave/usb0/node/<NODE>/configuration/set
with message {"parameter":<PARAMETER_ID>,"value":<VALUE>,"size":<SIZE>}
You can get current parameters by publishing a message like:
cmd/zwave/usb0/node/<NODE>/configuration/get
with message {"parameter":<PARAMETER_ID>}
And listening for the response.
Configuring sleeping nodes can be tricky because they need to be awake for messages to be recieved.
Typically, one or three button presses triggers a wake-window and a NIF.