Since you haven't described what was identified as "malware" I can't tell you
much. I do know that the one bit of adware that comes with BearShare is
never identified as hostile by AVG because it is known to be harmless.

You can remove the harmless adware if you want. The uninstaller is in
"C:\Program Files\Save" or "C:\Program Files\VVSN", depending on which
version you installed. If the uninstaller warns you that BearShare may be
affected by uninstall, don't worry because it won't.

Some of the adware scanners out there falsely identify innocent parts of
BearShare as "malware" or "spyware" even though they are not. These
defective products, such as PestPatrol and the new Microsoft scanner, can
even damage your BearShare software. Don't trust them at all if they try to
tell you that BearShare is harmful, and replace them as soon as you can with
good, trustworthy scanners like [Ad-Aware] and [Spybot Search and Destroy].