Grammar Nazi version:

use warnings;
use strict;

my %results;
my $type;
while (<DATA>) {
    next if m{^/};
    next unless /\S/;

    if (/^TYPE\s(\S+)/) {
        $type = $1;
        $results{$type}{CAUSE } = 'UNDEF';
        $results{$type}{EFFECT} = 'UNDEF';
    }

    if (/^(CAUSE|EFFECT)\s(\S+)/) {
        $results{$type}{$1} = $2;
    }
}

for (sort keys %results) {
    print "$_:$results{$_}{CAUSE},$results{$_}{EFFECT}\n";
}


__DATA__
// HEADER TAG
// VERSION TAG

TYPE VALUE1 EQUALS MAIN
I am useless text
CAUSE FAIL
EFFECT ERROR
ENDTYPE

TYPE VALUE2 EQUALS MAIN
I am useful test
ENDTYPE

TYPE VALUE3 EQUALS MAIN
CAUSE DEGRADED
ENDTYPE

TYPE VALUE4 EQUALS MAIN
EFFECT WARNING
ENDTYPE
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