Cheat programs for games are notorious for triggering false positives in some antiviruses, it could be one of those here too. Upload to VirusTotal and see what the report there says. If you believe that it's really safe, just ignore the warning, add to exception list and enjoy, but be very careful before doing so.
But if it happens to be a real virus, then there is NO way of running it completely safe. Sandboxes and such help, but they don't ensure 100% isolation really. What I use to run dubious software is to use a "disposable" virtual machine, one that I don't fear to reformat every week, just for the sake of testing. That's neither completely safe, but at least is some form of isolation, should you program proves to be a real virus.