The company seems to be hiding the API reference, as it's not available on the web, so no way to see if something has been overlooked.
What you want to do is possible, but it's far from a trivial exercise. When you toggle that function, a hundred different locations in memory could be altered, and finding the correct one which reflects the state may not be easy...if you even know where in memory to start looking.
I have a question...as this is a function of the UI, is this state saved between re-starts of the software? If so, that data is already being stored somewhere. The most likely location would be in the app config data area in the registry. The first thing I would do is a registry search for Alphacam and see what is being stored and how often. If the state happens to be available from there, and it's updated in real-time, then reading that would be your best solution.
You say you have a "hack" in place to determine the current state. I'm guessing it is along the lines of placing a dummy object near a snap point and determining whether the objects location moved to that point or was placed at the actual co-ordinates. If not, and barring other options, that doesn't seem like the worst approach.