Hi
Does activated = you get a negative going edge?
-- or --
activated = while the signal is low?
-- and / or --
for some time after the above event?
The circuit you use is dependent on what you want it to respond to.
Is your signal a relay closure, or a 1.2 V logic level, or ECL or .... Does it have noise on it?
The circuit you use is dependent on what the signal looks like.
Is the LED a 5 ma 1.6V SMD red blinker or is it a stack of 32 Cree white LED's running off of 72 volts.
The circuit you use is dependent on what sort of load you have.
What kind of background do you have in electronics? Is an MCU something you are already using? Is this for a one off or for production? How fast do the "one shots" come in? Do you already have an inventory of parts (7400 TTL) you would like to use?
Lots of questions.
Bob