First avast doesn't delete anything it alerts to infection and pops-up an interactive screen for the users to choose the action to take. The Home free version doesn't have any autonomous actions and the Pro version which has, the user has to set it up as to what action/s to take on detection.
What is the infected file name, where was it found e.g. (C:\windows\system32\infected-file-name.xxx) ?
Check the avast! Log Viewer (right click the avast 'a' icon), Warning section, this contains information on all avast detections. C:\Program Files\Alwil Software\Avast4\ashLogV.exe
If your exception isn't working you are either putting it in the wrong location (program files, exclusions and not the on-access scanner, see below) or you are getting the full path to the file incorrect.
You should always confirm the detection - check the offending/suspect file at:
VirusTotal - Multi engine on-line virus scanner and
report the findings here the URL in the Address bar of the VT results page. You can't do this with the file securely in the chest, you need to extract it to a temporary (not original) location first, see below.
Create a folder called Suspect in the C:\ drive, e.g. C:\Suspect. Now exclude that folder in the
Standard Shield, Customize, Advanced, Add, type (or copy and paste) C:\Suspect\* That will stop the standard shield scanning any file you put in that folder. You should now be able to export any file in the chest to this folder and upload it to VirusTotal without avast alerting.
If it is indeed a false positive, see
http://forum.avast.com/index.php?topic=34950.msg293451#msg293451, how to report it to avast! and what to do to exclude them until the problem is corrected.