Yes it seems like the setup is not correct. Do you have license for Vmware agent for Backup exec? From where you are selecting the resources to be backed up. If you are selecting the resources properly and using Vmware agent for backup then you shoul...
Is GRT option selected for Exchange Backups. If yes then unchek that option and run a full backup. If backup completes without error then go ahead and check back the GRT option and then try another backup with GRT selected.