Are you running 2 Antivirus in your PC (AVG & Kaspersky)
WMFDist.exe file contains Windows Media Format 9 Series Runtime files by Microsoft. Do not install Windows Media Encoders/Codecs when installing the Video Splitter.
Where from you have downloaded ultra Video splitter? If it's leagal one, don't worry! win 32 pe/patch is not a virus but is often used to pack with virus. Just ignore this message or bypass AVG and install.