We discussed this at length in another thread. This article is even worse than the original, since it leaves out that part that this only works when you are an administrator. Which is exactly what it is supposed to do.
It also neglects to mention that this "flaw" requires getting the user to download and run malicious code. If I get the user to do that (especially if he is running as admin), why would I spoof the security center? I could format the entire drive at that point.
Edit: Well, they do make a reference to that fact that this only works as admin, but I doubt the author realizes it.
The threat was said to be more serious for home machines which are generally less well protected than corporate networks.
Users on corporate networks are less likely to be running as admins (but many do), whereas the majority of home users do, since that is the default behavior.