This is awesome and would be extremely helpful, maybe there is a preference I am missing but it is not working for me in on OS 10.10.2 in Cubase 7.0.7, 7.5.40 or in Cubase 8.0.10.
Automation of course follows event with “Automation Follows Events” preference enabled/button pressed regardless of group. I can also group automation events but they are not linked to the audio event (clip). Thanks for the picture you attached.