[python-win32] Automation triggered based on image in window?

[reckoner]

I'm trying to do some automation using Python and pywin. Is there a way 
to trigger when a particular image is shown?

In other words, I am trying to get the functionality that is described here:

    http://www.vtaskstudio.com/images/screenshot_recognition.png

and likewise here:

    http://www.autohotkey.com/docs/commands/ImageSearch.htm

using Python tools.

Anybody know anything like this?