It is part of Symantec components and is perfectly safe. It connects to the net for updates specifically for the Symantec Shared components. It should be one of the executables allowed in your firewall anyway and if not, you can add it.
Symantec shared components are those parts of Norton that are also in other Norton and Symantec products. So they may not receive updates via the liveupdate, or idle time updates. They have to go find them from time to time.
Whether you have done anything to Norton today or not, due to the idle time processes, Norton is watching out for you.