It's a virus that merely watches .jpg and executes code that it finds in there. Now this .jpg code can do anything rather than one specific thing like most viruses did in the past. Someone can send out .jpg code that deletes files, and someone else can send out .jpg code that sends reg info somewhere..
Also, any ideas about the 150k emails I get that take me to a page
In its current form, an infected JPG file cannot infect another computer on its own.
But Gullotto said there's no reason a virus writer couldn't make the picture itself able to infect other computers.
I don't think it's pretty much spreading out like you seem to say in your post blue ;o).
I just can't imagine what will happen if the virus mentioned in a Wired article called New Virus Infects Picture Files (thanks [MP] Wolverine [MP]) proliferates.