Active Edits is intended to compliment remote editing by automatically uploading changes when the user saves the local file.
What you're looking for is not the same. Log monitoring via FTP does not provide a very good solution and you would be better off using a ssh terminal and the tail -f <filename> command to monitor the log file in real-time.
Yes.... i know the auto-upload when you edit.... infact if it's possible i have make a Feature Request
I'm sure filezilla on some version ago have some function to obtain similar feature..........