This file isn't new, it was available in 2000 and XP and it isn't an exploit.
One of my favorite bloggers is Raymond Chen. He has taken 'exploits' similar to these to task for a while now. (1, 2, 3, and 4 for example) I think that the 10 Immutable Laws of Security, written by Microsoft Security Response Center has it put best:
Law #1: If a bad guy can persuade you to run his program on your computer, it's not your computer anymore
If you are able to modify system files, then you have all the access that you need. The exploit could be compared to a scenario such as this:
You have a locked room and I want inside. So, I take your key and bring it to a friend who goes into his secret lair (or Lowes) and makes a copy of it. Then I skydive back to you and plant the key back. I then unlock your door.
Great, so why didn't I just use the key? Sometimes when these 'exploits' are described, the extra steps mearly obfuscate the true nature of what is going on.
I take your key.
This is also reminds me of those number tricks relatives spam you with. Take a number, do a bunch of confusing things to it, and end up with a number or a symbol or whatever.
In the end, giving admin access to someone (whether you chose to or not) grants them administrative actions.
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