Is it possible to trigger events from character sheet?

To be specific - Is it possible that "Class Resource" section can change a character's sheet "AC"?
or "Features & Traits" can chance a character's sheet "AC"?

Then the same, either "Class Resoruce" or "Features & Traits" to change a weapon property in the "Attack & Spellcasting"

Just how we have ammo tracking, where we can link an item in "attack & spellcasting" to "class resource" I am looking to do it backwards, reducing AC or Weapon Damage,

Example: In Class Resource - Long Sword = 100 (percent) - at 50 (percent), it would reduce the sword dmg by -1.
If not, if there is a code to do that in the features & trait box

trying to create a weapon and armor durability system, I have that info fleshed out - looking to simplify it for my players with 1 click instead of multiple clicking the sheet to update.

What you are describing is how sheets are designed to function... The sheet must be programmed (eg sheetworkers) to detect specific changes and update sheet attributes accordingly.

I'll add that it sounds like you're talking about the 5e by roll20 sheet. What Vince is describing requires building a sheet from scratch 

yes 5e ogl sheet.

Yeah, as a user of the sheet, there's no way to add that functionality.

As Scott says, if you're using the 5e by Roll20 sheet, you can't bbuild into the sheet.

But as a pro user you can make a Script that does this, but it sounds like you're making fiddly changes so you'll have to be careful to build the script and make sure that players are entering values properly.