Rather than using HideOut you can achieve the same thing with some OS X Terminal knowledge....
Create a directory with a '.' at the beginning and place any file in there, they will be hidden and not indexed. Then use the 'open' command to get at your files. Make sure you don't name your directory the same as something Mac OS X uses or else you will get into some headaches.
Launch Terminal and type:
mkdir .hidden
open .hidden
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