It appears that exclusions created are not being processed as expected.
VPdebug log shows that the exclusion or exclusions are not be implemented properly due to an unrecognized error.
When you create an exclusion on the client side for a folder it will create the exclusion with a * or wildcard -
E.G. C:\Program Files\*
(Note: On the client for Symantec Endpoint Protection the * is only added for cosmetic reasons and is there to acknowledge that its applying to everything included in that folder and subfolders)
On the SEPM side the exclusion should not contain the * because the wildcard is not recognized when the exclusion is created in the Symantec Endpoint Protection Manager policy. When the exclusion is processed it will not be applied and will create a notation in the VPdebug log if logging is enabled. The error will show that the exception/exclusion is not a recognized path and fail to implement the exclusion.