If you want that feature, I would recommend Smart Alerts, also from Bellshare. All of their apps work together very nicely, also with Berry Popup, all of these apps integrate with each other letting you use features from the other apps.
Actually, it can be set for certain apps, general email accounts, and sms/mms. It does not work for individual contact, but Bellshare does have SmartAlerts, which you can set filters for certain emails/contacts.
