I'm thinking it would be a lot easier, since you want to double click to activate the sequence of events, to make this an applescript.
Give the applescript the same name as the application you want to run.
If you really want to be confused later, paste the icon of the target application on there also.
Unix is really powerful stuff, but for gui, you might want to use other tools.
If you created a unix deamon that waited for the application to launch, it would already be too late to do the other tasks, since the application depends on the resources being available before launch.
Just my .125 cents
edit --> By the way. It is possible to do this with applescript. I did a while ago for exactly the same scenario.