I agree with Noname. I don't eat the extra calories from exercise because I also think they are inaccurate and over stated. I just ignore the extra calories as well as the warning that I am not eating enough calories for the day.
I think if one was to allow themselves the exercise calories, they'd probably be taking in more than they wanted or needed and would stall the weight loss.
I (and others who use MFP) also feel that the little blub at the bottom of the page when you complete your entry for the day that says "if you ate like this... you'd weigh that" is also off. Still ... it's a nice tool to log things and you can't beat the price