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I think what that does is basically set up a small XDCC server that connects to IRC to serve files from your connection/computer.
Are you running Windows 2000 with no firewall? This is a HUGE hole in Windows 2000/NT ... I've seen it applied and it's usually targeted on college students who are on a college network so they can send files fast. This will make hidden files on your drive that you will be uploading to other users who request them.
I've looked at Symantec's site, and they apparently have no other information on it. If you are running Windows 2000, I suggest you format and re-install Windows if you can't find a fix for it...and make sure you get a firewall setup.
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Asus A7N8X Deluxe | AMD AthlonXP 2600+ | 512mb Corsair XMS Extreme DDR
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