<p>Here's my scenario - I have an SSIS job that depends on another prior SSIS job to run. I need to be able to check the first job's status before I kick off the second one. It's not feasible to add the 2nd job into the workflow of the first one, as it is already way too complex. I want to be able to check the first job's status (Failed, Successful, Currently Executing) from the second one's, and use this as a condition to decide whether the second one should run, or wait for a retry. I know this can be done by querying the MSDB database on the SQL Server running the job. I'm wondering of there is an easier way, such as possibly using the WMI Data Reader Task? Anyone had this experience?</p>

You may want to create a third package the runs packageA and then packageB.  The third package would only contain two execute package tasks.
http://msdn.microsoft.com/en-us/library/ms137609.aspx
@Craig
A status table is an option but you will have to keep monitoring it.
Here is an article about events in SSIS for you original question.
http://www.databasejournal.com/features/mssql/article.php/3558006