MarketBay are pretty well known for shady practices, for example here and here. Before they were called marketbay.com, they were known as yourclick.com and run by a firm apparently called Three W Networks Ltd (Google it). Everything is hidden behind a shell company in the Bahamas, with a name of David Da Silva connected to it, although this is a fairly common name and it may well be assumed. The company recently changed name to Media Entertainment Guide, still quoting the Da Silva name and a Bahamas address as seen in the WHOIS for marketbay.org which is not privacy protected (unlike marketbay.com).
[As a side note, the historical WHOIS records for marketbay.com identify a previous owner who confirmed that the domain was sold to another party]
The software punted by MarketBay looks to be of questionable use, but that's an accusation that can be made against any one of a number of businesses.. caveat emptor and all that. But at the very least you can say that affiliates are marketing this software deceptively.
Now, the IP address of 220.127.116.11/28 is rather more fruitful to examine. It's a very small block of IP addresses, listed as belonging to Mango Ideas in Canada (note: these sites are no longer hosted there as of March 2011)
Update 23/3/11: It appears that most of the sites are no longer hosted here (they appear to have moved to other Canadian hosts), there are a few remaining sites that I can't vouch for one way or another.. as it is, I would suggest that this block is now clean and no longer evil.
Mr Kennedy says that he assumes that the bad sites were probably put on there by a reseller or perhaps a compromised account, and they have a very strict anti-abuse policy.