During installation you need to choose standalone mode and then SMTP client module and POP3 client module.
Then fill appropriate fileds. Note in the last field you must enter Internet name or IP address of your Exchange server.
Leave Mail queue field blank.
After completing the installation start Mercury.exe Click Configuration, then MercuryD POP3 Client Add information about yout POP3 accounts (last 6 fields). In field Default user you must place internet address of exchange mailbox to route. LEAVE FIELD LOCAL USER BLANK.
Now you can start testing process.
Feel free to send me your comments and criticism.