Seems like this could be accomplished in another, less complicated way as well. Here are some options to consider:
1. By default, copy the person who initiates the Info Exchange transfer on the email notification that gets sent out. If there is a problem with the email being sent, they won’t receive it and that would be a cause for concern (and yes, I realize that there is a difference between internal email system delivery and external delivery via SMTP - so this is not perfect).
2. Again by default, have the reply-to/from addresses in the notification be set to the email address of the person who originates the notification. In this case, SMTP-transfer errors would then be reported by the email server to the person that sent the notification.
My direct experience with Info Exchange is still a bit lacking, so maybe these options already exist.
In our current age of SPAM-choked email systems, even monitoring the SMTP transfer logs does not provide a high level of assurance that a message has reached its intended recipient. Many email system administrators have turned off their delivery failure notifications because these notifications are abused by spammers to harvest valid addresses. So, a successful SMTP transfer just means that the information was sent to the receiving SMTP server, not that it was delivered to whom we sent it.