Do not mix up the user mode ZwOpenDirectoryObject with the kernel mode ZwOpenDirectoryObject -- the kernel mode API (http://msdn.microsoft.com/en-us/library/ms800966.aspx) indeed seems to available as of XP only, but the user mode version should be available at least since NT 4. Anyway, I would not recommend using ZwOpenDirectoryObject.
Why should configuration files and registry keys fail on Vista? Of course, you have to get the security settings right -- but you would have to do that for your named events as well -- so there should not be a big difference here. Maybe you should tell us some more details about the nature of your processes -- do they all run within the same logon session or do they run as different users even? And is there some master process or who creates the events in the first place?
Frankly, I tend to find the Process Explorer idea to be not a very good one. Despite the fact that you probably will not be able to accomplish that without using undocumented APIs and/or a device driver, I do not think that a process should be spelunking around in the handle table of another process just to find out the names of some kernel objects. And, of course, the same security issues apply again.