When you have this many eyeballs looking at your code, the odds of a good-intentioned (however playful/immature) coder to discover a vulnerability is much greater than those of a real ill-intentioned hacker simply due to the sheer number of the former. The issue will quickly get fixed by the community, the kid will get the attention he wants, and life will go on.
I was replying to the parent, who attributed this to the power of "open source & eyeballs looking at your code" but this is not such an instance.
There's very popular idiom in Rails development of updating model data from a form POST/PUT in one line of code in a controller:
my_object.update_attributes(params[:object])
Because many users follow this approach, it made this hack widely exploitable. You can either assign parameters piecemeal in the controller or explicitly set the attr_accessible attributes in the model. There's nothing inherent in Rails that caused this vulnerability, rather it was programming practices by developers.
Many PHP apps used to rely on register_globals without proper input checking, and when those apps got hacked, it was clearly their their own fault. Just like GitHub is primarily responsible for today's exploit. But that didn't prevent people from calling PHP "insecure by default" for enabling register_globals in the first place.