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Clarification regarding 'Aggregation Exceptions'


When I recently stumbled across aggregation exceptions, I thought it possibly meant that you could exempt certain events from aggregation if certain field criteria were met, however on reading through the brief notes in the 9.3.0 Product Guide (p86 which refers to edit or remove only, and 214-5).  Pages 214-5 indicate that an aggregation exception is simply a device that is configured not to receive custom aggregation settings when aggregation settings are modified.  Is my understanding on this correct, or is there more to this?