It's a rumour. The security system of the 360 is nowhere near being hacked right now. The only thing we can do is flash the DVD Drive to allow the use of backups and even that only currently applies to the Samsung.
He's either going to offer this flashing service, or he's reading far too much into the Devil360.com 06/06/06 thing
It'll be one of those two - place yer bets please