The term dllhost.exe *32, also known as dllhost.exe *32 COM Surrogate, is a process used to host one or more operating system services. The dllhost.exe *32 Microsoft Windows executable file is labeled as: COM Surrogate. This is a required Windows file and is used to load needed DLL files that are used with Microsoft Windows and Windows programs that run on your computer.
This file is located in either the c:\windows\system32 or c:\winnt\system32 directories depending on your version of Windows and may also be located in the dllcache directory if present.
Trojan.Poweliks is know to use dllhost.exe *32 COM Surrogate as a process when has infected in a computer. If you are seeing a very large numbers of dllhost.exe *32 COM Surrogate using a lot of CPU and RAM, then this trojan might be on your machine.
Because dllhost.exe *32 COM Surrogate is used as a common system process, some malware often uses a process name of “dllhost.exe *32 COM Surrogate” to disguise itself. The original system file dllhost.exe *32 COM Surrogate is located in C:\Windows\System32 folder.
(that’s on Win7 32-bit, I haven’t checked my 64-bit Win7 to see if the locations are different)
However, there does exist a trojan with similar name (the similarity is deliberate to better disguise itself).
But provided you have a trustworthy antivirus/anti-spyware installed, and keep it up to date, and stay away from dodgy websites, you need not be concerned.