I would start with the PTT (Protection Testing Template) available for users at the Omicron website. Inside of these templates are the capabilities for scripting, using Visual Basic. I am not intimate with Micom Sw, however I have used the following procedure with SEL relays with success.
#1 Use the Execute Module to open Micom S1 Studio
#2 Execute a script to extract your settings
#3 Execute a script to import settings into the XRIO converter
#4 Run tests, repeat, etc.
Example script tools are available athttp://technet.microsoft.com/en-us/library/ee156592.aspx
In my case the above was used for simulating the keystrokes to navigate SEL SW to extract desired settings.
Although this is very possible and utilized in other relay testing programs (Enoserv RTS), consider the implications of removing all human interaction between the tester and the device under test. I am of the opinion that after a metering test, the digital relay is very likely to operate properly and to specification. It is the implementation of the settings and logic that need to be carefully evaluated by the test tech when testing. An automated script can not make that judgement.
With very little effort, it is possible to structure a complete test that is capable of performing all of your tests, without changing the settings of the relays. There is a new Overcurrent module that can test all fault loops without the problems of false tripping. Additionally, there is a metering accessory that can be used to pick up the "Pick Up" LED on the relay.
If you choose the fully automated route, contact Omicron. They have a team which specializes in testing automation. I've seen quite impressive demonstrations of what can be done with the Vusual basic scripts.