Guess it is kinda true even though the first article was still dumb.
And this is taken from the Bugtraq Mailinglist:
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This is very similar to the AIM overflow recently discovered.
ICQ protocol uses the same TLV (2711) packet and there is a similar 
weakness in the parsing of the packet.
The details of this vulnerability will not be released until a 
further time (when a patch has been implemented, probably). ICQ2000 
clients are vulnerable. ICQ2001 clients do not appear to be 
vulnerable under default setup conditions.
Execution of arbitary code is possible since EAX/EBX point to within
the payload. 
Until AOL announces a patch/workaround, it is highly recommended to 
restrict receiving of events (other than normal messages) to contacts you 
know.