I can't think of many cases in popular usage where it would be natural to substitute one for the other. Perhaps in the pure or scientific sense it would work, and that's a maybe . A solar eclipse would be an event, but could also be described as an action.
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Mr WordyThe core difference is that an "action" refers to someone (or something) doing something,Hi, Mr. Wordy,
AvangiThe volcano erupted; the bomb exploded; the car crashed; the man fell.