Based upon a communication with a researcher at McAfee, they consider the VBS/Psyme declaration as valid and pointed out that McAfee AV is not alone so I tested it and found the following also declared the script as a script infector...

BitDefender 7.2 09.29.2005 Exploit.ADODB.Stream.Gen
Kaspersky 4.0.2.24 09.29.2005 Trojan-Downloader.JS.gen
TheHacker 5.8.2.116 09.28.2005 VBS/Psyme

McAfee has indicated that this function is based upon flaw in IE that is too easily exploitable and thus will not remove this detection.