Yes, the FIB exception can be the cause for your preformance problems. It can lead to high CPU and connectivity problems throughout your network. The exception being true means the switch has exceed the amount of routes it can maintain in TCAM.
You can review the total amount of IPv4 routes allowed using command "show mls cef max" and compare that to how many routes currently in TCAM with command "show mls cef sum". Please note, once you exceed the amount of routes allowed the FIB exception state will not be cleared until you reload the switch. This holds true if you exceed the limit and dropped back below (possibly due to a change in the network).
To avoid this issue you can use route summarization to minimize the amount of routes learned. To maximum number of the routes that can be programmed in the hardware allowed per protocol, use the mls cef maximum-routes command .
http://www.cisco.com/en/US/docs/ios/ipswitch/command/reference/isw_i1.html#wp1087660
If you have the TCAM resources available to increase the amount of IPv4 routes I recommend you plan to make the configuration change prior to the reload so you only have to reload once.
Regards,
Dale