The code sends Skype users a message reading "Check up this," plus a dodgy URL with a hyperlink attached. Surprise surprise, if a user is silly enough to go-a-clickin' they are redirected to the inventively named file_01.exe. This doesn't seem to be a major threat to the clued up user, however, as chatters will be prompted to run the file. Other file names include gdi32.exe, ndis.exe and sk.exe.
If you do run the file, of course, it will do annoying things. If opened, the trojan will send the same message to all contacts on a user's buddy list, not to mentioning trying to connect to a Yahoo mail server to send an SMTP message. The programmers, however, seem to have forgone using a working server, which Websense reckons is to let the attacker know if a machine has been successfully infected.
For a screenshot and more information on the Warezov/Stration based trojans, head on here. µ