I am curious about this too. Have you made any headway here?
So far, we've had to exclude: /Users/.*/Documents/Microsoft User Data/Office 2011 Identities/.*
I did open a support case with McAfee and this was their response. For what its worth...
Please find the suggested exclussion from MSM 1.1 best practice #: https://kc.mcafee.com/resources/sites/MCAFEE/content/live/PRODUCT_DOCUMENTATION/ 23000/PD23466/en_US/MSM_1.0_Best_Practices_Guide_v2.pdf (page 16).
The syntax of the exclussions will be "/.*\.mdb" if want to exclude mdb file.
Thanks for that.