What is this and can I delete it?

Hello all, I recently installed Outpost Firewall Free and I am now getting a pop up about an application requesting an outbound connection. The process info is:
C:\programfiles\pinnacle\sharedfiles\programs\mediaserver\pmshost.exe

I know what the Pinnacle software is but I am not familiar with this application. Any ideas if I should continue to block or allow it. It pops up frequently.

 

You can let it through, whenever you are not sure then google the executable, in this case pmshost.exe Here's one of many threads about it http://www.file.net/process/pmshost.exe.html

 

OK, this is getting frustrating, I tried allowing it and I tried blocking it and adding to a block list per both replies. Outpost conitnues to pop up with the same message.