the WOT is human-driven, so subject to the idiosyncrasies of mob-action. in my experience, MOST [90%+] windows users would be unaware of truly malicious links on a page. The AVAST tool simply surfaces a visible indication of their automated website-checking applet which is superb [blocks the malicious link/page before browser can open it].
and yes, I'd wager they have a few false positives now and then but I'll pay that price, anyday.
if anyone knows, I'd be interested to know the similarities or diffs as to how Chrome accomplishes much the same thing, on the fly, collecting data on malicious signatures [I assume] and blocking - warning the user "don't go there". IE is a bad bet, no matter what is done to fix it.
If you just gotta use IE, I would add Spywareblaster to the "MUST HAVEs" for IE
if you allow superantispyware to run realtime, turn off Defender [turn it off anyway....]