Daughter's computer caught the "Antivirus 2010" virus... I know what I'll be doing this weekend!

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It's amazing to me that the Norton Internet Security 2009 software I have installed on my daughter's computer can not detect the "Internet Security 2010 virus" that looks so much like norton antivirus software. Even though this virus is so obnoxious... Popping up fake windows, flashing the background... it's also removed things like the taskmgr, so I can't get rid of it.   I have no choice but the nuclear option of formatting the disk and reinstalling the operating system.  So much for Norton...