Oh... and now that he's published what the exploits are he's provided a simple path to correcting them (use a better random number generator, don't use a static salt, don't send the data over http, don't use the same IV).
And he's provided a tool for breaking Hidden Tear... that's great except it's a visual studio solution. Not like my grandma can easily sort through that and figure out how to run it. No harm no foul?
All in all it seems like a lot of bullshit.