Just notified of a threat involving Overloud's REmatrix Player:
 
VirTool:Win32/KME!rfn
Alert level: Severe
Date: 3/4/2018
Recommended action: Remove threat now.
Category: Tool
Details: This program is used to create viruses, worms or other malware.
Affected items:
file: X:\Plugins\Overloud\Install+REmatrix+1.2.8+Win+(32+bit).exe

What is the recommended action/avoidance?

What anti-virus are you using ? It might be a false positive. 
 
[Edit]

Neither Webroot nor MalwareBytes flagged it for me

I use MS Defender. Could have just been my particular download or a false warning. But I take no warning lightly. File was removed.

I remember seeing that with the 32-bit version and also believe it was Windows Defender that flagged it. It was not present in the 64-bit version, so I only installed 64-bit and got rid of the 32-bit version as well.

There is a 1.2.9 version on the Overloud server.  But it's 32-bit version gets flagged as a virus by a small number of anti-virus products.  Here's the Virus Total report:
 
https://www.virustotal.com/#/file/4c96776b77e5262c5b3954ae3fcc7dea328f18d63491850b8c33bfed16016887/detection
 
But I suspect it's a false positive.