By pasting a link to your ESPN fantasy team in the app, you will automatically get a notification every time one of your fantasy players hits a dinger. After an additional in-app purchase, you will also be notified when one of your fantasy players is not in the starting lineup. Tapping the lineup alert notification will bring you straight to your fantasy team to make lineup changes.
This will only work if your league is publicly viewable. Don't worry about checking ahead of time. Once you add your team, the app will tell you if it's a private league. There is an option in the app to send the league manager a text message asking to make the league publicly viewable. Once he/she does, there is no action required by you. You will automatically start getting the notifications!