Yes, this is a false positive. AquaMail has no permission to get GPS location, you can check this yourself in system settings -> apps management (or Google Play on the web).
Already reported to TrustGo, and fixed by them in a virus update a few days ago.
This is from July 3rd:
Hi there,
Thanks for contacting TrustGo support team! My name is Keith and I'm glad to assist you.
We have identified an issue in recent virus signature update, and we will publish a virus definition update today to fix them. The new signature will be pushed to each device in 3 - 4 hours automatically. You are highly recommended to scan your device again to see the correct scan results.
Please accept my sincerely apologies and we will take immediate actions to avoid such issue from happening again. If you have any question or need further assistance, please reply to this email.
Best regards,
Keith