Your first line in your first post says "log file backup only".
What i'd like to ask is, "Why are you backing up Exchange log files?"
You may know this Exchange info, but it's easier for me to just cut and paste it here in case you don't:
Exchange stores mail information at a high level in "Storage Groups".
Each SG may have a number of "Stores".
One of the SGs will also have the Public Folders - just another Store.
Each store is a DATABASE - 2 files, really - *.stm & *.edb.
The public folder store will be the same.
Corresponding to each STORAGE GROUP (NOT STORE) is a set of transaction logs.
(If you're careful not to delete anything, you can use Explorer on your Exchange server and find all this)
When you use the "Information Store" selection in Backup Exec, you are backing up these raw database files, as one large file.
BTW - you do not use the AOFO for this. make sure it is not selected.
In your job specifications, one of the backup types for exchange is "full, flush transaction logs". This is part of the reason for using the Agent for Exchange.
When the backup is successful, Backup Exec (with the Agent) will flush the transaction log files (you don't need them now, coz you have a successful backup) and start from fresh.
This type of backup happens quickly, and is the one you need to do a full Exchange environment restore in case of disaster.
Do it FIRST, do it to it's own backup job, get it over and done with. SAFE.
Cheers