When rightclicking on a Storage Group/Exchange db in the restore window there is only an option to 'rename' the restore not to 'relocate' as there would be for other plugins.
For Exchange 2003/2007 if one wants to restore the data to a different location in the existing Exchange installation one would create a new Storage Group, a 'restore Storage Group' to restore to:
For Exchange 2007 or earlier a target 'restore' Storage group would need to be created but that the database names must remain the same. As Exchange 2010 does not use Storage Groups it would be necessary to rename the database so that it does not clash with the existing one.
As explained in section 7.3.2 of the Exchange plugin users guide below if you want to keep the database name the same pre Exchange 2010 it would be a good idea to restore the db to a new 'restore' storage group. You cannot use the database rename feature to rename a db in the same storage group.
There is no relocate option as such. The name you enter in the 'rename' field is either the name/path of the new storage group you have created for the restore or the new db (with a different name) you have created within the existing storage group.
Here is the link to the Exchange Plugin users guide. The rename procedures are described from page 80. The procedure for restoring to an alternative Exchange server is described on page 91 of this guide.
Please let me know if you have any further questions.