I installed 40012 last night and my antivirus reports the presence of the Bifrose.YM backdoor trojan, a keylogger and password sniffing program.
I told the antivirus program to ignore this warning. I am now getting warnings when using Hipihi.
There have been other reports of this sort about other versions of Hipihi, from folks that reported using antivirus programs other than the one I use. I use AVG from Grisoft.
Here's the warning message I get a lot now when using Hipihi:

Hipihi needs to take some effort to keep people from seeing that. Just checking with Kaspersky isn't sufficient to prevent users from seeing this notice, users that will include reviewers, bloggers, authors of books on virtual worlds, investors, etc.
Checks should be done with the AVG, Avira, Panda, and other common malware detection programs. The purpose of the checks with multiple anti-malware programs is to prevent users - or would-have-been users, in the case of those who just abandon the use of Hipihi when they get the warning - from getting false positives.
In addition to the warnings about a serious trojan being in the Hipihi files, the gray terrain is still there on my system.
The sun looks better than the insane way it did in 40011, but it does still pulsate in an annoying manner. I haven't had time to check if the pulsation can be stopped.