It takes 3 arguments since the action takes 3.
The first argument is a combo which is just a number index in python:
0: set
1: add to
2: accelerate
3: deccelerate
The second and third are speed and orientation.
Other than looking at the plugin headers to find the python names of ACEs I also utilize pyshell with the dir() function to browse for the names. For the arguments I look at the ACEs in the event editor.
Numbers and strings are the same in python.
Combos are just number indexes.
ObjectTypes are either an oid number or a string of the object name.