The AEM feature in Operations Manager 2007 is next step from CER 2.0. A training video is available here.

As such, AEM falls under the umbrella of Client Monitoring which in its current state also emcompasses other features like Customer Experience Improvement Program (CEIP). A white paper on Client Monitoring can be read here.

Operations Manager SDK contains helper classes for programming with AEM under Microsoft.EnterpriseManagement.Monitoring.ClientMonitoring namespace.

There's a lot available online to read about AEM (one such read is here) and so the next few blogs on AEM would focus on how you can customize AEM as per your needs.