What is it?

selmcoll.exe is a file associated with?GFI Lan Gaurd Security Event monitor application.

What does it do?

GFI LANguard Security Event Log Monitor (S.E.L.M.) performs event log based intrusion detection and network-wide event log management. GFI LANguard S.E.L.M. archives and analyzes the event logs of all network machines and alerts you in real time to security issues, attacks and other critical events

more info:

http://www.gfistore.com/pc/viewCat_P.asp?idCategory=7