William I apologize for the confusion; below are the steps that should work. I believe I have provided understandable information but please reply to this thread if you find something that is not understandable. I want to turn this information into a technote and would like feedback. Also, this is written from the perspective of giving steps from the very beginning.
Steps for a Continuous Exchange Backup job.
Install Backup Exec on a server other than your Exchange server; to use CPS with Backup Exec and run a Continuous Exchange Backup the Backup Exec Media Server cannot be the Exchange Server.
The first CPS server is called the Continuous Management Server (the CMS); it establishes the Backup Group. This server should not be the Exchange Server due to performance hit. It would be best to install the CMS on a third server if possible but you can install the CMS on the Backup Exec Media Server. Be certain to select the Exchange Agent during CPS installation.
If the CMS is also the Backup Exec Media Server, then go to the next step. If the CMS is a third server, then push the CPS Continuous Protection Agent from the CMS to the Backup Exec server; during CPS installation opt to place the Journal Files on a drive other than the drive where the Backup-to-Disk folder used in the Continuous Exchange Backup job will reside (read this entire document and plan ahead). Be certain to select the Exchange Agent during CPS installation. The CPS installation will require a reboot.
From the CMS push the CPS Continuous Protection Agent to the Exchange server. Be certain to select the Exchange Agent during CPS installation; during CPS installation opt to place the Journal Files on a drive other than the drive where the Exchange transaction logs reside (read this entire document and plan ahead). Make certain you have also installed the Backup Exec Remote Agent for Windows Servers on the Exchange Server; this could have been done via Backup Exec for Windows Servers or at the time the Continuous Protection Agent was installed. The CPS installation will require a reboot.
At this point the Backup Exec Media Server and the Exchange Server will both have the Continuous Protection Agent installed and be ready for the configuration of a Continuous Exchange Backup job.
A Continuous Exchange Backup job can only run to a Backup-to-Disk (B2D) device and it's recommended that a separate B2D device be used exclusively for the Continuous Exchange Backup job and not mix other resources such as file system backups (files, folders, drive letters), System State backups, Shadow Copy backups or other agent backups (SQL, Oracle, Sharepoint, etc).
Open a backup job in Backup Exec.
Browse to and select the remote Exchange Servers Information Store.
On the left hand pane select Microsoft Exchange to view the settings that can be applied to Exchange backup operations.
On the right hand pane select the following:
Full - Database & Logs (flush committed logs) method.
Continuously backup transaction logs with Backup Exec Continuous Protection Server.
An informational prompt may appear, if so, read the information and click OK.
Upon clicking OK, notice a second child check box has also been enabled to create recovery points every 8 hours.
Recovery Points are browsable backup sets that appear as if hey are a full Exchange backup. For more information on Recovery Points please review the Backup Exec Administrators Guide, section titled Continuous protection for Exchange Data. It's recommended to use caution when selecting the frequency of recovery points since each Recovery Point will occupy additional disk space.
On the left hand pane select the Schedule option. The Exchange Full Backup should run on a regular schedule.
In between the Exchange Full Backups, CPS will replicate the Exchange transaction logs to the B2D device in a sub-folder named .exchange with sub-folders for the storage groups. When a Recovery Point is run Backup Exec will issue the command to the remote Exchange Server for it to truncate its logs. For this reason no other Exchange backups that affect the Exchange transaction logs or are based on the Exchange transaction logs should be run.
Duplicate backup sets can be run for the Exchange Full backups or for the last Recovery Point prior to the Exchange Full backup.
After a Continuous Exchange Backup has been created and run do not change the B2D device. If a new B2D must be used a new Continuous Exchange Backup job should be created and the old one deleted.
Do not delete any data in any of the B2D sub-folders as this could cause all backup data to be rendered unusable.