And unlike other programs, SpywareBlaster does not have to remain running in the background.
Spywareblaster only kicks in, when it detects a problem.
If it's listed in Add/Remove, then it should be installed.
Here's a way you can test it, if you want:
Click the Misc. IE Settings
tab, at the top
Put a checkmark in the Disable the IE Home Page settings area in the Internet Tools Control Panel
Now open IE
Click Internet Options...
Click the General
If Spywareblaster is working, everything in the Home page
box should be greyed out, and you shouldn't be able to make any changes.