I use OneDrive without pausing it and haven't had compiler issues in SIMPL, SIMPL+, VTP, VS 2008 and VS2002 for more than 2 years now.
I use folder symbolic links to reference the working SMW, VTP, etc. files. (with the /D and /J option). The folder link will look like a shortcut but it's not.
This also lets me work around the path file length limits.
This also lets me work without transferring back and forth between a workspace folder and a OneDrive folder.
The only program that doesn't work with symbolic links correctly is Construct, as somewhere in the compiler it will find the actual path (probably some kind of webpack compiler thing). But Construct works on long path names so it's not so much an issue aside from the quirks that are Construct.
So if the OneDrive folder is C:\user\OneDrive\...\Projects\...\ProjectName
I have a symbolic link that shortens it to C:\Projects\...\ProjectName
I would then open the SMW files using the shortened path.
This lets OneDrive passively work in the background instead of scanning active applications and file changes. It's a slower sync but works nicely for user libs as well.
I've set my UsrSplus, UsrMacro, and UsrDb folders SIMPL uses as symbolic links pointing to OneDrive folders so that my libs are also sync'ed.
My current setup for Simpl folder is
C:\usrsplus
C:\usrmacro
C:\usrdb
Here's a link and more info on symbolic links