Iomega Encryption Utility v3.1.exe Trojan Alert from Norton

I recently ran a complete scan on my Windows Vista system and received a warning from Norton Security software that Iomega Encryption Utility v3.1.exe (which is created on a virtual drive at startup) has "Trojan.Gen.8!cloud". Of course, my first impulse was to effect the removal but the program wouldn't remove it. I tried Norton Eraser which also found the "trojan" in the file and could not remove. I'm assuming it has to do with the file being an encryption program existing on a virtual drive. Having further researched the trojan "Trojan.Gen.8!cloud" I found that this is typically a "generic" name for an unidentified trojan. I've blocked the program from being run (I've never run it) but I'm wondering if anyone else has received a warning for this particular program file. I've looked into removing the virtual folder and file which required me to download a new version of the utility from Iomega. Upon attempting to run the utility, Norton gave me the same Trojan alert. 

My questions are thus:

1) Has anyone encountered this problem.

2) Is this just a "false positive" from Norton due to the encryption nature of the Iomega utility program.

3) At this point, I've designated the program as "blocked" so that it can't be run and as Norton wouldn't allow it to run anyway (unless I overrode the protection) it has never run and isn't running now. Have any of you run this program and encountered a Trojan after doing so?

That's all I have. If anyone can shed any light on this, I'd appreciate it. Thanks!