If you have the sources of that application, you can use some TCP/IP communication (localhost) in order to interact with LabView.
If the main part of that application is an ActiveX control or a DLL, it will be possible to access its functionality from LabView.
If the application functionality provide precise time related programming, you can capture the beginning of vibration and do all LabView operations based on relative time.
If you have just an executable, one solution is to capture the vibration status with some accelerometers and correlate LabView Vis with acquired values.
