Google your problem. On the net you will find ways to remove the threat, but you will need to remove some items from the registry, and remove some folders. If you run MS restore point you will need to clean thoose files out also.
If you make mistakes in the registry, bad things can happen to your operating system as your OS may not work.
I did some reading the virus you have. The virus (malware) can be damaging and also possibly steal information. That virus also redirects. It is possible the virus or malware could redirect you to a site with more malware.
If it was me I would just do a reformat and new install of the OS.
NOte : since it seems you have AVG, maybe you could goto the AVG forums and get help.
http://forums.avg.com/us-en/avg-forums?sec=thread&act=show&id=212734