If we can get Zwave Events Emitted on all actions
Press
Release
Theres no reason why we can’t map them to PC Controls and play skyrim on a 4 gang wall switch.
But in all seriousness, It would allow for alot more automation
But how would you deal with the 700ms latency? 
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Instant On, then you just need scenes for
(Switch Pressed)
(Switch Released)
I just realized the basic black series switches don’t have this capability. Was hoping to set up an automation for my bathroom fan switch in Node Red (I’m using HA), where if it’s called at the switch, it disables the automatic turn off from the humidity sensor. The only way I could think to do it was using a zwave js event. Can anyone think of a workaround?
EDIT: I just figured out a workaround, but thought I’d leave it here for anyone using HA. I have my Inovelli Switches integrated both via the MQTT integration (using zwavejs2mqtt) and the Z-wave JS integration. I typically use the Z-wave JS entities, however I was able to leverage the MQTT bathroom fan switch entity as the “called at switch” flag. It’s funny cause it’s actually the first time I’ve used the MQTT entities - I was considering disabling all of them. Happy accident!
EDIT #2: Sorry didn’t see in the OP that they wanted a “switched release” event as well. Hopefully my workaround can still help anyone that has a similar requirement.