Nothing is ever 100% secure, including vbulletin, and 3rd party add-ons (a hole in two top statistics mods was exploited the other week as well) - the important thing is when someone discovers a hole and exploits it, does it get fixed - in the case of VB, Flashchat (and the stats programs) the answer is/was yes.
JFYI, The insecure Flashchat CMS file(s) were fixed in 4.70 (or 4.62, can't remember which now).
I believe their forums being down was/is some sort of hosting issue, the main site was restored from a backup taken last week.
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