It seems to be part of a Java game.
[link|http://hoogervorst.freehosting.net/net_wildtangent.htm|Wild Tangent: too bad]. Getting rid of it involves some registry hacking, according to the article. I haven't tried it myself. Caveat emptor.
HTH.
[edit:] Whoops, you asked about deleting the directory. You should be able to do it once the process has been killed. See [link|http://www.pchell.com/support/wildtangent.shtml|this] writeup too.
Cheers,
Scott.