Will Time Machine backup portions of my file system that come from mounted drives?
Solution 1:
It's most likely your filesystem is just one that fseventsd is ignoring due to it not being HFS+
Even with a proper Mac filesystem, you could have unintentionally told the system to secure and ignore this volume by having an obscurely documented empty file called no_log in /path/to/your/fs/.fseventsd/no_log.