How do I ignore specific drives on VMs?

From the manage nodes screen, click the [+] or triangle symbol in front of the node. That will list all the resources. You can check individual resources and then click on Delete in the menu bar. Just make sure that do NOT have the node also checked. It will delete the node and everything with it. I

If you wanted to monitor but not alert - search thwack for more details on hard disk alerts and custom properties. Basically create a custom property Do_Not_Alert_Volume or something like that, and make it a true/false value. Have the default value set to false. Edit properties on a volume, chose true for the custom property and you are halfway there. You need to add the logic to all disk alerts to ignore volumes where the do not alert property is set to true. 

That worked, thanks!

FYI - the list resources is more of a discovery tool for adding resources to monitoring. You can choose which detected items to actively monitor.