If you look on the profiler at the "Top 25 File extensions". If your excluded extension is there then yes.
What did you set as the exclusion?
Do you you High and Low Risk process Poluicies? - You may also need to set your exclusion into both of these porfiles also if you do.
use the Eicar test file. Download from "www.eicar.org". name this file with the same exclusion type and try to save to the disk. If it is successful then your exclusion should be working ( also check High/Low risk profiles ) and scan settings.
If the file is deleted then there is still something wrong with the configuration.
Depends on what version you are running, there is this known issue: KB89845
The expected behavior is for the Profiler tool to show processes under High Risk to be scanned under High Risk, and processes under Low Risk to be scanned under Low Risk.