Very first thing I'd do is removing that app ASAP from my device (Settings→Applications→Manage Applications). One never knows what it does!
Second, it helps to disable "unknown sources" (you always can enable them again when needed), to prevent such apps from being installed. With "unknown sources" (in Android 4.0.x you find this option in Settings→Security) disabled, only Google Playstore is permitted to install apps.
I have no idea what this app does, and whether it maybe installed (and hid) some Trojan stuff. If you want to be 100% sure, you can do a factory reset -- but that way you'd lose all your data and all apps you installed (it will, however, by default not touch your sd card). This option might sound a bit paranoid -- but even if I'm paranoid, that doesn't mean they are not after me! ;)
Of course, this is fully up to you. Uninstalling that app is definitly a must -- the other steps are IMHO optional. But I'd at least look around in the App Drawer to check if there are other suspicious things which not belong.