This is nothing new really -- it seems to be a Leawo rebadge. And there are a few things I should remind folks about if they installed it...
It includes older Microsoft C/C++ runtimes that should be updated through Windows Update. The temporary files from the setup routine for those runtimes are left in C:\ rather than one of Windows temp folders. That isn't a huge problem but it is untidy so folks like me will object -- it's up to you whether you want to hunt them down & delete them or not. [Myself, when I install/activate an app like this in one of my VMs, I'll normally do without the runtimes entirely -- many [most?] people I think have more than enough copies already installed in C:\Windows\ WinSxS\ .]
It also includes an installation of Xvid. I recommend that if you use Xvid outside of this video converter, visit xvid.com, get the latest version, & install that to get everything as it should be.
Last, it includes a driver -- C:\Windows\ System32\ thdudf.sys , which may be installed, particularly in XP & Vista. This is a hacked driver for Blu-Ray drives, & *probably* won't cause any problems. If you do have problems, & a quick search in Windows Explorer finds that file, there's a thread discussing removal in the forums at SlySoft.
If you remove the app itself, some of the default folder locations appear to be typos... In my XP Mode VM there's an imElfin folder added to Users\ All Users\ rather than in the Application Data folder, & there's a separate "My DocumentsimElfin" folder, rather than an imElfin folder added to My Documents.