Suggestion: Allow suppressing updates for particular software

I have alot of applications and there are some which have updates, but I am not going to update them for various reasons, e.g.

1) Some software installed on my work computer are automatically upgraded, and so I do not want to upgrade them.
2) Some upgrades of commercial software require $$, so I don't want to upgrade them. Actually, in this case, I would like to know of minor updates, but not major updates. E.g. I have version 2.61, and there is a 2.62 which is free, but there is a 3.05 which costs $$.
3) Hardware drivers and printing/scanning software I generally do not want to ugprade, since the new version may or may not work with my hardware. E.g. I have Canon Utilities Easy - PhotoPrint EX installed. I don't want to ugprade it.

For all of these, I don't mind seeing the software flagged that there is a newer version available when I am looking at the entire list.  But, I would like to disable notifications and disable these software from showing up on the webpage showing needed updates. 

One way to accomplish the above would be to introduce a "warning" level and allow us to tag software where updates should show as "warnings" only.  Then on the entire software list, these software could be shaded in yellow instead of red. And on the updates web page, you could have two separate section, one for the red updates, and one for the yellow updates.

Or you could just allow us to suppress checking for updates for each software. Although, I do still like to see what the current version is for software, even if I don't want to upgrade it, so I prefer above solution.