Sorry for not posting here earlier but I figured false warnings and NSIS installers were discussed often enough already throughout the forums...
I'm the reviewer who put it on the site and I could (and certainly would) take it down if I had any doubts about the safety of the file.
I got the warning as well but I guarantee you guys that the download is absolutely safe.
I'll try to explain why:
The installer is created with
Pimpbot, which is used for 99% of all AVS installers. It is
open-source and absolutely safe. Pimpbot is basically NSIS with a GUI to easily create AVS, SPS and milkdrop installers. Older versions of pimpbot are known to give false positives - just search the NSIS sub forums for false positives and pick any thread. Also read
this thread and especially post #24.
If you're after this still afraid of running the installer, you can also simply open it in 7-zip instead and choose to install it manually.
You don't need to extract the files in the $[pluginsdir] directory as they are only meant for the installer itself.
Extract the files in $[32] and $[33] to ..\winamp\plugins\avs\
Extract the files in $_OUTDIR to ..\winamp\plugins\avs\frames.of.reality\
I hope this makes things clear because it really is worth the trouble.
But still, thanks for reporting, especially those who signed up for this