Yes I configured my system similarly. Basically the bpstart_notify needed to have the policy name to avoid it running when non-VCB policies ran.
One thing that happens occasionally is I'll get EXIT STATUS = 73: bpstart_notify failed
Turns out that when my ESX server has trouble with the snapshot process (timeouts..etc) Netbackup only gives the status 73. If I clear the hung snapshots via Virtual Center my backups run without issue. I still haven't found the root cause for the occasional snapshot not finishing properly.