(2) Do you have the source of it? Do you have a non-obfuscated version?
(3) Even if the answer to both questions in (2) is "yes", I still doubt any serious cryptographers would take a look at it. They (mostly) do things to write papers, and you don't get a paper out of "we broke a really weak encryption algorithm in a botnet". The chances that the paper is instead "this botnet has a reasonable encryption algorithm" are so slim, they won't consider it.
(4) That said, there are a number of non-serious cryptographers who would find it an interesting challenge, but if they can't break it, it still doesn't mean it's any good.