Now you can easily see if your pages or pages you are linking to contain malware or not. If they do, you can fix your content or not link to a page that contains malware. The Live Search Webmaster Blog has screen captures of what the reports look like when a page is infected by malware. Luckily, when I looked at the reports from this site on Live Search Webmaster Tools, I did not find any examples of malware issues either on the site or to sites I link to.
In addition to the malware reporting, Microsoft made it simpler to authenticate your site with Webmaster Tools.
As a matter of history, we posted first screen captures of Live Search Webmaster Tools back in November 2007. Soon after, Microsoft opened a public beta for others to give it a try. Then in July of this year, I doubted Microsoft's efforts with their webmaster tools. I was proven wrong a month later with improvements made to the tool.
We have discussion at WebmasterWorld around the link reports, where webmasters seem to be confused on the accuracy and how those green dots are reported. We do not have much discussion around the new feature of malware reporting.
Forum discussion at WebmasterWorld.