Since they still psychically know that they've been robbed it doesn't really seem to much like an exploit, only thing you are removing is the chance they'll turn around and catch you. Most players I'm sure are going to have a hell of a time dealing with this when the game releases because they'll be under the impression they can loot like crazy and all they have to do is make sure the npc doesn't see them.
This of course may get changed completely before release as we've seen a ton of people constantly complaining about psychic npcs and guards. Larian seems to listen to us quite a lot, even if they don't make it known, so I think we'll definitely see some stealing changes before release.
Right now stealing is in the weirdest spot I think it could possibly be in as it is difficult to reach a point where a character can steal enough to justify using your one and only chance to steal from that npc along with stealing being the primary and nearly only way to make enough gold to outfit your party currently.
And another thing I didn't see listed on the list, if you want to add it, is that you can park a character far away from guards and when you steal just throw the stuff in their inventory and let the npc check your other characters. Stops them from searching and you don't get into any trouble.
