acwlicon.exe is part of ThinkPad Access Connections suite and comes preinstalled on ThinkPad laptops. A traybar icon shows the status of the wireless connection.
Non-system processes like acwlicon.exe originate from software you installed on your system. Since most applications store data in your system's registry, it is likely that your registry has suffered fragmentation and accumulated invalid entries which can affect your PC's performance. It is recommended that you check your registry to identify slowdown issues