WordPress at a glance
action is not described

woocommerce_addon_installed action-hook . WC 1.0

Usage

add_action( 'woocommerce_addon_installed', 'action_function_name_8539', 10, 2 );
function action_function_name_8539( $wcpay_plugin_id, $section ){
	// action...
}
$wcpay_plugin_id
-
$section
-

Where the hook is called

WC_Admin_Addons::install_woocommerce_payments_addon()
woocommerce_addon_installed
woocommerce/includes/admin/class-wc-admin-addons.php 711
do_action( 'woocommerce_addon_installed', $wcpay_plugin_id, $section );

Where in WP core the hook is used WooCommerce

woocommerce/includes/tracks/events/class-wc-extensions-tracking.php 24
add_action( 'woocommerce_addon_installed', array( $this, 'track_addon_install' ), 10, 2 );