In case anyone is interested, I went ahead and worked out a solution for this myself using plug-ins.
In a nutshell, I created a plug-in which is fired OnBeforeDocFormSave. This plug-in takes a snapshot of the various document field contents, including TV values, before the resource is saved. I save all this to a table created purposely.
After the resource is saved, I fire another plug-in OnDocFormSave, which queries the tables for the before and after values, and e-mails all this off to the site admin.
Should anyone be interested in getting more details as to how I worked around this, just ask. Personally I’d still be very interested to know if there is a better solution.
Thanks.