No specific info about version 1.0. Please visit the main page of Babylon Toolbar on Software Informer.
Adware. Remove it with AdwCleaner or Hitman Pro.
Babylon is a virus. It changes your home page and other browser settings so that you always end up in their site. Once it gets on your computer, you will never be able to remove it.
pros: it translates, it does what hundreds of websites do.
cons: malware, spam, application takeover.