[bittersweet]

Seems you can set up webhooks to do just that! [1]

These are the events: send, hard_bounce, soft_bounce, open, click, spam, unsub, reject

[1] http://mandrillapp.com/api/docs/webhooks.html#method=add

[megaman821]

The API doc does not make it clear if I am getting the recipient, subject line, and bounce type back.

[cmorrisrsg]

You do get all the information we have on the message and the bounce. Recipient, sender, subject line, bounce info, tags, etc.