No, it's not a virus. Windows as well as any antivirus marks it as a virus because of the dll injection function. This is normal for cheats, injectors, etc.
So no, I do not think you will get banned. But running any questionable third-party program during VAC-enabled games is at your own risk; I don't recommend it.
DLL injector for gaming and other uses. This is an exact mirror of the Extreme Injector project, hosted at https://github.com/master131/ExtremeInjector.