You can do what you want, although your terminology is a little off. You can use the User-Defined Events which are new to LabVIEW 7.0 to create and generate programmatic events. There is a shipping example calling "Programmatically Fire Events." This is an example of User-Defined Evenst.
When you say "dynamic" events, you are probably referring to "dynamically registered" events. This is different. This means that you can register and unregister an event programmatically. Now, this can either be User-Defined events or just the user interface events which are available by default. The
LabVIEW Zone currently has an article up by the developer who built these feature
s so I would suggest taking a look at that. It should help get you started on this. They're certainly a very powerful new tool, but also very advanced.
J.R. Allen