I noticed that a notification from VeeamONE titled "Alarm - Backup job state for <server> has been changed to Warning (previous state: Warning)" gives an inaccurate explanation. The explanation seen in the Summary, Cause, and Resolution sections is not correct. The explanation is that one or more VMs failed to be backed up in a particular job when in fact the warning was generated because of low disk space on the storage target. In reality all VMs backed up without issue.
It seems that the notification is sent out with a boilerplate message when it should probably reflect the actual happenings of the job.