These actions will show up as at least 4 or 5 entries in Process Monitor (and maybe more, I'm not sure off the top of my head). This also means that applications monitoring for file access will catch each time this happens.
Unfortunately, whoever wrote that article does not seem to understand Window's internals, or how to determine what consists of bad or dangerous activity.
It should also be noted that Dropbox runs in the context of your own user account. It does not run as a service or elevated user, so it will only have access to the files you have access to (and that you have access to without requiring elevation).
I'm not going to claim to be a security expert, but I don't see anything that would suggest a security risk on Dropbox's part. Further, if a company has data important enough that they need to run DLP software on individual computers, they should not be allowing software such as Dropbox anyway.