First, double-check the file name, particularly the extension...I believe you mean desk_fave.ico (ico refers to an icon while ioc is usually a Winamp plugin.
Next, I'd delete the file. A search for desk_fave.ico only turned up one hit, which referred to P2P programs, not AOL. If AOL has a problem afterwards simply reinstall the software. Even if it were legit, it still needs to be removed because it's preventing your AV from doing it's job. (Either corruption or a purposeful action.)
If it doesn't want to leave willingly, download/use MoveOnBoot to kick it out the door the next time you reboot your computer.
Hope this helps,
I have a problem with running my mcAfee virus scan it get's to a file named C:\programfiles\commonfiles\commonfiles\AOL\desk_fave.ioc
and it stops scanning any other files it just stays on that one file then my coputer freezes up and the icons disapear and reapear. I did a google search on this file but nothing comes up, I tryed booting it up in safe mode and I still had the same problem it's not detecting any infected files my coputer just freezes up. Can you please help me. Thanks