This was a annoying virus/trojan which kept coming back despite removing it with spybot and ad-aware.
It was finally eradicated by going to google and finding
this post which referred to the
EliteToolbar Remover.
After running it in safe mode, ran ad-aware, spybot, and NAV (three times) to remover the last vestiges of it.
[9/4/06 frwr-news] Here's another one,
El.Toolbar Killer