Hi Will. The focus of the book is on building event processing applications, and not on how to build an event processing engine, this can be another book
The question you are raising is about keeping internal states when the temporal context is of long duration; some of the products in this area use in-memory databases with persistence capabilities, so that states are persisted (in a database, or sometime over the main memory of a cluster of machines in a grid), and are brought to memory when required. There is, of course, a trade-off between pure memory-based state, pure persistent state, and intermediate solutions. In any event, event processing tools typically support also long-term temporal context.
cheers,
Opher