Hi Larry,
Not a chance. Backup Exec 12.5 would work with lower versioned agents, but not vice versa. So Backup Exec 10d will not work with newer agents unfortunately.
To answer your other question, it would work as follows:
1. Main backup server would have Backup Exec (FULL) along with any additional agents (SQL, Exchange, Lotus Notes etc) installed. AOFO used to be licensed, but I see it comes as part of the package now.
2. Remote servers would simply have a Remote Agent (also licensed) installed.
The backup server would communicate with the remote server via the RAWS, using the Exchange agent it had installed on it to see, and back up Exchange.
Hope this helps?