arcmap - Auto-refreshing triggered by changes in directory for ArcPy?

I have a directory change monitor python script which monitors any changes happened in a directory, I want to trigger Arcmap auto refreshing whenever a change has been detected (eg. a new line added to a file). I tried to launch the monitor program within arcmap python command window using execfile("myprogram.py"). The problem I encountered is that once the script starts to monitor and auto-refresh, the arcmap main window was locked and frozen, no way to stop it except shutting down the arcmap, although I can see the auto-refresh happened whenever there is a change. Is there a way to run the monitor script in a separate process or background without locking or freezing the main window? Here is my monitor script which is borrowed from Tim Golden,

    import os
    import win32file
    import win32con
    import arcpy

    # Search for the new data

    ACTION = {
       1: "Created",
       2: "Deleted",
       3: "Updated",
       4: "Renamed from something",
       5: "Renamed to something"
    }


    FILE_LIST_DIRECTORY = 0X0001

    path_to_watch = "C:\Directory"

    hDir = win32file.CreateFile(
          path_to_watch,
         FILE_LIST_DIRECTORY,
         win32con.FILE_SHARE_READ | win32con.FILE_SHARE_WRITE |   win32con.FILE_SHARE_DELETE,
         None,
          win32con.OPEN_EXISTING,
          win32con.FILE_FLAG_BACKUP_SEMANTICS,
          None

     )


     while 1:
        results = win32file.ReadDirectoryChangesW(
            hDir,
            1024,
            True,
            win32con.FILE_NOTIFY_CHANGE_FILE_NAME |
            win32con.FILE_NOTIFY_CHANGE_DIR_NAME |

            win32con.FILE_NOTIFY_CHANGE_ATTRIBUTES |
            win32con.FILE_NOTIFY_CHANGE_SIZE |
            win32con.FILE_NOTIFY_CHANGE_LAST_WRITE |
            win32con.FILE_NOTIFY_CHANGE_SECURITY,
            None,
            None
         )

    for action, file in results:
        full_filename = os.path.join(path_to_watch, file)

        print full_filename, ACTION.get(action, "Unknown")
        arcpy.RefreshActiveView()