Not sure if exchange has/had the same bug the domino version of bes did. But the alert service was broken from 4.1 till 4.1.5 or 6 (one of those two) the smtp email wouldnt get out because the bes server would strip everything after @ out so if you used
it stripped off the jasjd.moc.
Upgrade to 4.1.5 or 4.1.6