Resolution:
After upgrade you may see in the debug log:

15:49:50 (ea/d) 14871 t001: debug: Oracle Message: -1405 - ORA-01405: fetched column value is NULL

15:49:50 (ea/d) 14871 t001: debug: Oracle Message: sql - select EVENT_ID ,TRIGGER_ID ,TRIGGER_NAME ,ACTION_USER_ID ,ACTION_TYPE ,ACTION_NAME ,JOB_TEMPLATE_ID ,POOL_ID ,MAIL_FORMAT ,TEXT ,EVENT_TYPE ,EVENT_NAME ,TO_CHAR(EVENT_TIME,:b0) ,EVENT_USER_ID ,EVENT_USER_NAME ,OBJECT_ID ,OBJECT_NAME ,VERSION ,OBJECT2_ID ,OBJECT2_NAME ,OBJECT3_ID ,OBJECT3_NAME ,TO_CHAR(EVENT_DT_ATTRV,:b0) ,EVENT_SEQ ,EVENT_DBL_ATTRV into :b2,:b3,:b4,:b5,:b6,:b7,:b8,:b9,:b10,:b11:b12,:b13,:b14:b15,:b16,:b17,:b18,:b19,:b20:b21,:b22,:b23,:b24:b25,:b26,:b27:b28,:b29,:b30,:b31  from  
15:49:50 (ea/d) 14871 t001: debug: processNextAction Time: 0.014
15:49:50 (ea/d) 14871 t001: debug: processNextAction failed -- &ltError, Client, 21000>: Invalid Event Type

This is caused by the customer having TRIGGERED_ACTIONS and the upgrade script not setting the column to  EVENT_DBL_ATTRV.  If all triggered_actions have nothing in the column then the following SQL will fix the problem:

update TRIGGERED_ACTIONS set EVENT_DBL_ATTRV='0000000000000000'.

This should be fixed in IC 7.2.2

What to do if the event action daemon shows an Oracle 1405 error.