What worries me about this system is that the executables can do whatever they like once they are running. This includes reading/writing any file on the hard drive to which the user has access.
Java applets operate in a sandbox, which prevents them from doing malicious things to your system. I presume the same is true of Flash media.
Java applets operate in a sandbox, which prevents them from doing malicious things to your system. I presume the same is true of Flash media.
Any plugin can do this, though. I believe most browsers set the virus scanner on them before booting the first time, but there's really no difference between igLoader and related systems, and a full-on web plugin.
If you haven't recieved a virus from or spyware from opening unsafe emails or clicking on random banner ads, you will not recieve a virus from igLoader.
This doesn't mean that browser plugins are a bad thing! They are the reason why your browser can display so many image and (any) video formats.