How Risky Are Norton Exceptions

I am running some software that causes an "Unauthorized process blocked (Access Protected Data)" exception in Norton AntiVirus Online (target is nav.exe) *every 5 seconds*.  (The software is serving a monitoring process, so I'm not surprised it's trying to access places you normally wouldn't want accessed.)   I contacted the software vendor and their answer is to add the folder containing their application to the Norton exclude list for Auto-Protect, SONAR, etc.  Is this safe?  Is there a better solution I could propose to the software vendor?