To do what your are asking would require a somewhat monumental effort.  There are numerous specification and standards producing organizations that would have to be continually polled for revisions.  For some groups, revisions are slow (ASTM, ANSI, etc.) while for others, revisions are common (manufacturers, etc.).

It would be great to have what you are asking for, I just can't conceive that anyone has put that effort in as yet, though you might check with one of the government groups that deals with a lot of specs and standards such as the US Army Corps of Engineers, Construction Engineering Research Lab (CERL) located in Illinois.  I think the URL is www.usace.army.mil/cerl but you might want to do a search to verify.

Thanks Ron for your response.  I'll check out the site you mentioned.  Currently we use a "home-grown" data base of material specs (mostly just selected mils and ASTMs) that we use.  It works, but we are faced with trying to integrate it into a new business system and that is where the problem lies.  I'd like to know how other companies manage flowing down specification requirements in a concise way to their vendors, especially for military/navy applications where sometimes superceded specs are required.