When a rotary machine is running, from which the acquired vibro-acoustic signals enable to reveal its operation status and health condition. The study proposed a DSP-based adaptive angular-velocity Vold-Kalman filtering order tracking (AV2KF_OT) algorithm with an online real-time nature for signal interpretation and machine condition monitoring. Theoretical derivation and numerical implementation of computation schemes are briefly introduced. An online real-time monitoring system based on the AV2KF_OT algorithm, which was implemented through both a digital signal processor and a user interface coded by using LabVIEW, was developed. Two experimental tasks were applied to justify the proposed technique, including (i) the detection of startup on the fluid-induced whirl performed through a journal-bearing rotor rig, and (ii) the separation of close orders from the measured signals of a multifunction transmission-element ball-bearing bench.