It's hard to tell from the picture how much of the pipe is "crushed"... that said, I think most would never give it a second thought. It can always be repaired if desired.
I'm sure you are looking around to make sure whatever curb, boulder, moose, you ran over didn't damage any other part of the undercarriage. From the looks of it I doubt the crushed section would cause much of an issue overall.
Slideshow: A one-of-one U.S.-spec Mercedes-Benz SLR McLaren Roadster became even rarer after a factory-backed transformation at McLaren's headquarters.
