It is one of hundreds of known hoaxes. Jdbgmgr.exe is a microsoft mini-program that is needed and legitimate for debugging java problems. Not that microsoft products are always so marvy, but regardless cute little grey bear and all, telling people that it is a virus will cause them to delete them. Before spreading terror, check and see if it's real:

For more on this particular hoax or a list of others, please visit Symantec's hoax center

(jbdgmgr.exe explanation is here) And for some real virus alerts, right here in Arachne's Web we have a thread-Virus Alerts, if you know of one that isn't posted yet, please notify Sankhkare, toman or any Arachne member and they'll look into updating it asap. Thank you.