I feel that it is more a crack than a hack. :-)
A hack would be to let the TIME web team to know the details of the crack and the solution to fix it.
Cheers. :-)
http://hacks.mit.edu/Hacks/misc/best_of.html
In the grand scheme of things, the ranking of TIME's list is relatively unimportant. I believe this is only the second time they've done a ranking poll, and it was effectively gamed last time as well (by a much larger group of people, though: Stephen Colbert fans and Rain fans).
I assume that a hack is the product from a hacker and I get my definition of hacker from the article "How to Become a Hacker" by Eric Steven Raymond. http://www.catb.org/~esr/faqs/hacker-howto.html
Learn by doing. Get things done, one way or the other. The very essence of hacking!