If you are using Firefox or, in particular, Chrome you are likely to get the site flagged as suspicious, if you are using IE (or possibly Safari, not sure what that does) then you won't.
My understanding of what has happened is that the hosting provider had an issue, possibly a serious issue, that replaced the site with something that Google and possibly some other security scanners found suspicious. A suspicious finding caused the site to be flagged as dodgy, this status will not clear for 90 days unless the owner requests that google rescan the site (
http://www.google.com/support/webmaster ... wer=168328).