I'm working off the top of my head here, but:
1) set up regular interface alerts for each of the links, with the message "site degraded"
2) create a group which is the two NEAR SIDE (ie: on on "your" side of network) ports relating to the satelite and terrestrial links for the remote site
3) make the GROUP the parent of the individual links on the far end
4) make sure the group reports mixed status (warning if one link is down, down only if both are down)
5) create an alert for when the group is down that says site is down