Yes, it is permissible to claim the foreign earned income exclusion and FTC, except the credit (along other deductions) must be reduced to the extent allocable to the exclusion.  For straight forward cases, ProSeries should handle that without your intervention, generally.

If your client has paid or accrued foreign taxes in a fiscal year country or is a dual earner whose spouse also claims foreign earned income exclusion or if your client has allocable SLL/OFL/ODL, etc., you may then need to make certain adjustments on your own as Intuit's tax products are not programmed for those situations.