> I get the feeling that I misunderstood what you just said. What is the
> debug event? where do we do anything with it?
debug events are part of the Win32 debug API. A debugger (ie a process using the client side of this API) will get "debug events" (basically the type of the event and some additional information). Such events are process created/terminated, thread created/terminated, thread stopped and so on. One of these "debug events" is the sending of a debug string (by the program being debugged).

This means that running a "decent" debugger (decent meaning implementing the support for this debug event) will print all the OutputDebugString calls from the debuggee.

A+