I find Exceed confusing, its help guides are confusing too. They also seem to not offer any way to use encryption between the client and the server.
Here is a dirt simple way to set up Exceed and putty in a way that is natural for people who have used linux before.
Go to Start->Programs->Exceed and start Exceed, just Exceed, not any of the other confusing thingies on offer. This will show you a splash screen and then you will not see anything. Now start putty, go to ssh options, tick the box enabling compression, then look for the X11 options, once you found it enable forwarding.
Connect to the remote host and type xclock&.
This is based on http://www.cam.ac.uk/cs/docs/faq/t9.html