"Bloodhound" is the generic name for a program that your virus protection doesn't recognise and thinks may be a virus. This file should be submitted in case it is a virus.
Download.Ject is a virus, more information on it can be found here: http://www.microsoft.com/security/incident/download_ject.mspx
Updating windows will stop you being infected by Download.Ject again.
If the file can't be cleaned and has to be qaurantined it usually means that the file is purely a virus and not an infected a file which you had previously.
Nick
September 2004