"used for Nero to check for updates" NO !
It's part of the Nero InCD PacketWriting Software (rev. 5.5.3.1+). You need this to access SecurDisc media.
Jennifer
Not a danger. Nero uses this as part of SecurDisc, BUT only certain drives, like some very new LiteOn drives use SecurDisc. If your drive supports it there will be a SecurDisc logo on it. Otherwise you may disable this from running at every boot. More information