What IOServer are you using? The WonderWare ones usually have a predefined item for each topic called "STATUS", which is a bool that indicates if communications exists to that topic.
Trying to monitor the CompactLogix fault registers won't work, if you want to ensure the health of the comms link...
Another typical solution, is just create a watchdog. Every xxx ms, Wonderware toggles a bit (or increments a counter). When the PLC sees that bit toggle (or counter increase) the PLC resets it.
If the PLC doesn't see a change of state in say, 1 second, it knows there is a comms problem. Ditto Wonderware, if it doesn't see the heartbeat bit/counter reset, it knows there is a problem.