Your replay should still show your host desktop running the VMware/Virtualbox if you said what you did. This part cannot be blanked out by an overlay. And yes I am aware of this, which is why I list throw it on a VMware machine to bypass this.
Very easy way to test this. If you want set up a session. I will try to join and take a video/picture of whatever you shared but forbid to take. If I cannot using the VMware trick then that is something.
However, I do not believe this to be the case since running inside a VM, sandboxed.
Wouldn't bother with virus or anything of the likes. It will be ran in a sandboxed machine and will be reverted to a previous screenshot prior to installation of the ARALOC software.