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NEWS:
Flaw leaves Linux computers vulnerable

http://news.com.com/2100-1001-857265.html

A flaw in a software-compression library used in all versions of Linux could leave the lion's share of systems based on the open-source operating system open to attack, said sources in the security community on Monday.

That is a threat at this time however I think that in the next version of Linux (Version 7.3 i think) Linus Torvalds (The creator of Linux) will have some sort of defence against it.
We'll have to wait and see

a) The flaw has nothing to do with the kernel version (and therefore nothing to do with linus). It is in a commonly used user-space library.
b) The flaw has already been fixed by the major vendors. Updated versions of affected packages are available immediately from RedHat, Debian, Mandrake, etc.
c) RedHat != Linux. The next RedHat version will (probably) be 7.3. The next linux (kernel) version will be 2.4.19

I stand corrected