Is it at all possible to set up a notification to a group when a custom field is greater than a specific value? We need to draw the groups attention the issues when they are updated with a value greater than a threshold.
No. Events are fired on "issue has changed", not "field has changed"
The closest you can get requires you to write a listener that can pick up any event where the field may change, read it, check the value and send an additional email (although you can turn off the original notification if you want)
In addition to what Nic suggested, you can create a Subscription notice that runs on an interval that you like with a JQL like "Project = XYZ and CustomField > 20"
Reference: https://confluence.atlassian.com/display/JIRA/Receiving+Search+Results+via+Email
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