It is possible, however not likely for this. Perhaps he was just trying to scare you.
I'm sure Marco knows a lot more about the internals of vB than I do. But this is why I believe it's fairly impossible.
The cookies stored contains a) your user ID (easily obtainable b) your password in md5 hash format c) a randomly generated md5 hash.
In order for vBulletin to consider you as logged on, not only must your USERID, PASSWORD combination must match the user information stored on the user table, but the session hash needs to match the session information.
So in order to infiltrate a login they need to know your user ID (not that hard to obtain), password and session hash.. It is more likely for them to guess your password than your session hash (near infinite possibilities).. and if they know your password, they'll just login as you through the forums.
But perhaps there is a related issue to that version of vB.. and in any case you should upgrade.
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