What Majora said:
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We have seen an increase in AV detections after our last few patches. We are still investigating these issues, but have managed to get the number down a bit already, and are still working on it. Apologies for this inconvenience.
As for why Anti Virus tends to flag Skylords files in general, please see the explanation below:
AV often randomly triggers on Skylords, which can happen again with updates. You have to make an exception for the folder so it leaves it alone.
The Skylords launcher functions in a way that triggers some AV. But it's harmless for the user yet necessary for the game to work.
By default, the game is meant to send your login credentials to the EA server, just like every other always-online game communicates with the official server. However, EA shut down the official server, there is nothing to communicate with. And without the EA server the game cannot function at all, it's dead. In order for this project to work it needs to use a technique that "steals" the login credentials that you enter when logging in and reroutes them to the Skylords Reborn server instead of the non-existent EA server.
So to be clear, what is being taken is what you enter on the log-in screen. Usually this will be your SR-account credentials that this project already has from you registering. Those are then being sent to the SR server instead of the EA server. Otherwise the game would just try and fail to connect to the dead EA server and not work.
"
I'm also waiting for them to fix this.