I will respond since I am one of the people who have been affected by this. I downloaded an app off the Play Store (then Market) which was infected with malware. This was done after the big bru-ha-ha over malware in the Market and they had supposedly enacted measures to prevent it from happening again.
Early Mon walked me through at the system level to see what and where the damage was and eventually a wipe was called for.
To those who say "nah forget it, doesn't happen" they are ignoring a potential threat, minimal to be sure, but a threat non-the-less and it is a bigger risk for rooted devices. It does happen and if having an anti-malware program could have prevented my situation in retrospect I should have had one installed. Having anti-malware doesn't harm your system and could potentially save you a lot of headache, I run one on all of my devices now just to be safe.
As far as the product in the OP, I can't say one way or the other. While it is not on the Play store this does not necessarily mean it is bad or shady, but I suggest researching non-Play Store apps before loading to be on the safe side.