Microsoft Smart Screen Filter is a feature present in Internet Explorer and other Microsoft products such as the Windows Live Messenger. It is a meant to protect users against web and social engineering threats. This Filter scans links that are accessed in a Windows Live application and opens them in the default browser. One reason that this warning pops up so frequently is because Microsoft reminds its users to protect their passwords and that they are leaving Windows Live to visit a website. However, it can be quite annoying when one comes across the SmartScreen filter after clicking on a link sent by a friend via a Windows Live application. Microsoft SmartScreen By Pass is a Google Chrome extension that gets rid of this warning message and takes you directly to the desired webpage.
All you need to do is to install this extension and it will bypass the SmartScreen filter by default. However, it is worth mentioning here that Chrome needs to be your default browser, as any links from a Windows Live app opens in the default browser.
Microsoft SmartScreen Filter By Pass Extension for Chrome