visual notification when sound is played while muted

Is there a way to get a visual notification when a sound is played while the volume is set to "mute"?

I.e. whenever a certain program produces a sound, its task bar button should flash, or regions of the screen should blink, or some other visual notification should show.

Assume no background music is running, since that would cause constant visual notifications.

System is Windows XP.

Addendum

Example scenario:Browser-based game in chrome. I want to get a visual cue whenever chrome beeps, even if the particular tab or window is not in the foreground.