Processes

Run the Microsoft Anti-Spyware Beta on that system.

You can also run HiJack This and check the log for suspicious activity.

http://www.spychecker.com/program/hijackthis.html

Tried searching for the file and checking the properties ? This would give an indication if it is part of the OEM system and sometimes some information on it.

If it is not part of the system files, this will give you an idea of where it came from (company/individual)

You could create a restore point and delete the file (save a copy) then see if there are any problems with the system.

I did find this link that explains what it can do (which is pretty much whatever the programmer wants it to do);

http://www.accela.net/HyperSpec/Body/s_progv.htm