The IPM application does not have an SNMP trap receiver capability. IPM has a capability to configure an SA Agent operation to throw SNMP traps when the user-defined threshold is violated. However, also realize that throwing the trap is a function of the router running the SA Agent source operations. IPM does not do a trap, it does not forward traps.
If you want to change how the traps are being handled you have to go to the router config and look to it's "snmp-server host" trap config. You can send those traps to another application (once again, not IPM since it doesn't have a trap receiver) that does the email/paging functions you request.
For a free-ware trap receiver you might look to NET-SNMP tools at http://net-snmp.org
You could obtain that CLI-based SNMP manager/agent and trap receiver and integrate it with your own scripts to do emails/pages.