XnView is good. You can do a filtered search across all your folders and then queue up the images you find and do a batch proccess to compress them all.
Edit:There is a feature for the enchanced version XnViewMP called 'hot folders' that i think might satisfy your requirement for compressing a watched folder. Just tested it and as soon as I placed the jpg in the hotfolder it was replaced with a compressed version at my specified compression ratio and resolution.