How to build a framework for creating Data Activators in Fabric?

Hello traneddy2 , yes this could be doable. There would be a few caveats and considerations. The underlying data that you would want to create the rule on would need to be one through one of the supported activator sources. (Eventhouse, Power BI, etc.), but here's how you could make it work:

Create some data store that you use to power your rules (Excel, SQL, Eventhouse, etc.)
You need to include the required fields as a part of the Activator Create Rule API definition set. 

Create a script to iterate over the rules, calling the API for each rule definition that you want to create. 

You need some mechanism to allow the Activator to update the table where you stored the metadata to be updated and indicate that it has already been created. Otherwise, nothing would stop the script from recreating the Activator every time the script runs, as Activator does not have any logic or rules to prevent rule duplication.