Yes.
I have went as far as excluding the file itself and the folder and all sub contents as well.
It is a basic install of the SEP package, nothing twisted or odd. Other than everything is set to LOG only if something is found by any component. And there is nothing of the program getting blocked or a response to it in any of the SEP logs, either on the client or the SEPM.
Oddly enough, If I select the icon in the Systray and Select Disable Symantec Endpoint Protection the file will still hang when executed.
If I uninstall SEP and reboot the tlist file works as intended.