Considering that FormatFactory is a widely used tool, recommended by experts without reservations, if you got it from its official site and not from a dodgy source, it is highly unlikely that it contains any malware. Furthermore, Softpedia carries for it its usual certification of “No spyware, no adware, no viruses”.
Nevertheless, for your sake, I downloaded the zipped installer and scanned it with 3 leading anti-spyware tools, without anything found. However, I have not installed it.
Consequently, if you are sure about the tool’s source, you can report the matter to McAfee and if it’s a false positive, they should put it right in a following AV update.