There are notifications sent each time a Recipient opens and views the envelope and then once the entire envelope is created, but I do not believe it sends a notification after each Recipient completes there action, but the option I could think of is to add a Carbon Copy step between each Recipient who signs which basically would email the Carbon Copy after the action required of the Recipient was done. So here is an example:
Recipient 1 - Needs to Sign or Needs to View
Recipient 2 - Carbon Copy
Recipient 3 - Needs to Sign or Needs to View
Recipient 4 - Carbon Copy
etc etc.
Also realize that in the Sender Inbox you will see real-time updates on completion for each Recipient, so monitoring the Inbox, Waiting for Others would be another way to see updates to the envelope.