I should turn off the bloody email that tells me I have a notification for the time being.
But anyway, last response for tonight! The way this exploit was explained to me was that the developers of Cubic Ninja were trying to essentially prevent a backdoor to exploit their code, but in the process of working on that backdoor they opened up a bigger vulnerability, which made this exploit all the more possible. There is a ton more information on smealum's dev blog that goes into the exploit details. In return for the backdoor, unauthorized code is allowed to run in arm11 but it won't be enough to break the system completely down to let people do what they want, ie piracy.
Looking at the current 4.5 version exploit for flash chips, you have two different exploits, an MSET DS User Profile exploit, providing Arm11 usermode capabilities, and a firmware vulnerability that allows arm9 code execution. The higher firmwares patched the later portion, but the exploit here swaps the firmware exploit with the ability to run arbitrary code, which in turn runs code but can't go much further than that.
