Great support from the Lookout guys as I emailed them and they replied right away, here's what they said. I should be okay:
The reason we have flagged this app is as 'Riskware' is due to a special key that this particular developer used when publishing the app. The key is normally a private piece of information that we use to determine if an app is authentic, and to identify the developer. In this particular situation, the developer chose to use a key that has been widely distributed on the internet or has been compromised.
This makes it impossible for us to validate the app and its authenticity. Therefore, we are not calling these apps malware, but we recommend that users not install apps like this because it is inherently more risky (hence the "Riskware" assessment).
If you as a user understands the risk and still decide to trust the app, feel free to ignore the warning.
We have also been seeing some device manufacturer, preinstalled apps also being flagged as 'Riskware' for the same reason. These apps are unable to be uninstalled and we please ask that you ignore the warning if it is an app that came preinstalled on the device. We have reached out to these developers to make the proper changes.
Thanks for using Lookout!
The Lookout Team