As someone with no life, I'll be happy to explain the gist of it to you: See, in v0.4, there was quite an overhaul on how the game works internally, and the changes in the code, for some reason, would make it so Unity would refuse to run it unless it thinks your computer's region is Japanese, or simply Asian, whatever. A workaround found was running the game through something called NTLEAS, which I understand is like a region emulator?
Anyways, the current version, v0.41, includes NTLEAS in it, and the TrueFacials.exe is actually something the dev included as a shortcut to run the ACTUAL executable, which is named bin.exe, through the NTLEAS included. And it's the shortcut .exe that is setting off the false positives. Fun fact, it's not even really an .exe, its a .bat the dev converted into .exe because he was worried people wouldn't know they need to click it.
TL;DR as far as i've seen, the TrueFacials.exe is completely safe, but if you're worried, you can get rid of it if you want. You'll likely have to go run the bin.exe through the NTLEAS thing, though.