procmailrc file suspicious?

[Lance Hoffmeyer <lanceh@ibm.net>]

I had a directory named '~' the other day and tried to delete it.  Needless to say it started to delete my home directory.  
Now when I use fetchmail and it tries to read my .procmailrc it tells me it is a suspicious file and won't read it.  
Anyone know what is going on here?  My rights are set to read/write for everyone.  My user is the owner and group.
Any suggestions?  Also, any suggestions on how to remove that '~' subdirectory without destroying my home directory again?
it is in a directory called data (i.e. /data/~).  

Lance