use svchost.exe as a cover. That is because a typical system will have 3 or 4 "legitimate" svchost processes running, so the user will be less apt to find it.
The simple answer is it may or may not be a trojan or a virus. Due to this very reason, whenever I get a firewall alert that svchosts is trying to access the internet I automatically deny it, since it may not be a legit program.
If MSAS is flagging it, I suggest you use caution.
Every couple of seconds, Microsoft Anti-Spyware keeps popping up saying that an Application Change has been Blocked and it says that svchost.exe is a possible trojan, I did a Google search on svchost and it said that it is part of Windows. I did Spyware scans with no luck and I am currently scanning with AVG Anti Virus. Does anyone know about this "svchost" and what the problem could be?, I have Windows XP Home Edition with Service Pack 2 Installed.