Prayaya V3 is 100% clean, and does not contain any form of malware, including spyware, viruses, trojans and backdoors, you could see the scan report here by 42 anti-virus software.
VirusTotal Report of Prayaya V3
Or you could submit any file of V3 to be scanned here at anytime.
http://www.virustotal.com/index.html

Please add Prayaya V3 to your anti-virus white list to make sure V3 could run well on your PC.
About your security warning, that is because your software does not identify the files/services of Prayaya V3, so it shows you a warning popup. You can solve it simply by adding Prayaya V3 to the trust/white list. Of course, you could block it and discontinue if you do not want to run Prayaya V3 anymore :)