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[this post is by Nerd Himanshu Dhamija] I found a Trojan fake alert virus today on a client’s PC that was masking itself as Microsoft security essentials, I was unable to distinguish bettween the trojan program and the real thing even though I have the AV on my home PC and am very familiar with it.  The client never downloaded the real Microsoft security essentials AV and sure enough, once the virus was removed, there was no trace of essentials.
I know that many of us recommend this product to our residential clients as I do too and we need to watch out now, so if you have any clients that are calling about a virus being found by their security essentials program, it could very well be the virus itself duping them and trying to infect the system further etc..