If you want to monitor backup errors, then you may want to create your own alerts based on the Veeam B&R Windows Event log. See this KB link for descriptions of all possible backup events > http://www.veeam.com/kb1834
On a side note, we also have a free MP for backup
that provides basic monitoring for your jobs. Currently this is VMware only, but we are planning to make it available for Hyper-V very shortly. The release is just around the corner.