They're support forum (teamcyclops.com) is down (again)...but there's a thread there that goes through this extensively. In short, it's not malware. It is just using a packer that is commonly used for malware.
Kaspersky scan results:
CODEKavCon 1.72 (Tue Jul 18 21:52:02 2006) console anti-virus scanner
(c) 2002-2005, Igor Soumenkov, Kaspersky Lab
Bases loaded succesfully.
KAVCON 1.72 (Tue Jul 18 21:52:02 2006)
Command line: kavcon c:\program files\evolution tools
ÂÂ KAVCON ScanÂÂ14:25:46ÂÂ20.03.2008
2008-02-20 14:25:46ÂÂÂÂ c:\program files\evolution tools\CheatEditor.exe packedÂÂYodaProt
2008-02-20 14:25:46ÂÂÂÂ c:\program files\evolution tools\CheatEditor.exe ok
2008-02-20 14:25:46ÂÂÂÂ c:\program files\evolution tools\CheatEditor.exe ok
2008-02-20 14:25:46ÂÂÂÂ c:\program files\evolution tools\CheatEditor.exe ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\evoOptions.exe packed YodaProt
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\evoOptions.exe ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\evoOptions.exe ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\evoOptions.exe ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ packed PE_Patch.UPX
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ packed UPX
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\ndsExt.dllÂÂÂÂ ok
2008-02-20 14:25:47ÂÂÂÂ c:\program files\evolution tools\Uninstall.exeÂÂarchive NSIS
2008-02-20 14:25:48ÂÂÂÂ c:\program files\evolution tools\Uninstall.exe/streamarchive NSIS
2008-02-20 14:25:48ÂÂÂÂ c:\program files\evolution tools\Uninstall.exe/stream/ScriptÂÂÂÂok
2008-02-20 14:25:48ÂÂÂÂ c:\program files\evolution tools\Uninstall.exe/stream/data0001ÂÂok
2008-02-20 14:25:48ÂÂÂÂ c:\program files\evolution tools\Uninstall.exe/stream/data0002ÂÂok
2008-02-20 14:25:48ÂÂÂÂ c:\program files\evolution tools\Uninstall.exe/streamok
2008-02-20 14:25:48ÂÂÂÂ c:\program files\evolution tools\Uninstall.exeÂÂok
Scan process completed.
; Spent 0.532691 seconds while processing all objects.
; Scanned
; TotalÂÂÂÂÂÂ 18
; Found
; Packed objectsÂÂÂÂÂÂÂÂÂÂÂÂÂÂ 4
; Archived objectsÂÂÂÂÂÂÂÂÂÂÂÂ 2
; Detected objectsÂÂÂÂÂÂÂÂÂÂÂÂ 0
; Suspicious objectsÂÂÂÂÂÂÂÂÂÂ 0
; WarningsÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂ 0
; Unknown formatÂÂÂÂÂÂÂÂÂÂÂÂÂÂ 0
; Finished:ÂÂÂÂ 14:25:48 20.03.2008
;ÂÂ------------------