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What is it?
ATI Task Icon - atiptaxx.exe

What does it do?
atiptaxx.exe - It's basically just that little ATI icon in the tray at the bottom right. You don't need to have this running unless you like something that it provides. I don't so I disable this.

To turn it off go to Display Properties -> Settings -> Advanced -> Options and uncheck the box for Enable ATI taskbar icon application .

Virus Precaution:
The original atiptaxx.exe from ATI gets placed at C:WINDOWSSystem32atiptaxx.exe . If you find it anywhere else then you should be suspicious for sure.

You'll want to keep an eye on this google search for any known viruses. At this time I have not found ANY viruses that run themselves using this filename. All of the results currently affect this file in some way, but do not actually run as this filename.