Is there an effective workflow for doing this?
You will need to be a lot more specific.
What is it that you want to do?
I would like to have a specific point in the song trigger game code to run. I am fine polling for something off the EventInstance. Callbacks could also work. I looked through one of the examples in the documentation, but it looked a little heavy-handed. I would be happy if I could just set a parameter somewhere in the song and read that off in my game.
Those are your two options really. Callbacks might be a little heavy-handed to set up, but depending on what you need it may be preferable to polling. But that all depends on the project.
You can automate parameters in Studio and then in game use getParameterValue, the finalValue is the value after all automations.
Can you automate parameters to trigger based on where the song is though?
Not along the timeline unfortunately, it sounds like marker callbacks would suit your need best.