[lholden]

It's Theo de Raadt...

It's possible that he knows of a real exploitable problem.

It's possible that he is trying to boast about his prowess with things "security".

It's possible the "hole" is a design feature in FreeBSD that he just doesn't like. (And hence, considers to be a security problem.)

It's possible that he is bitter that FreeBSD has gotten more attention than OpenBSD.

It's possible that he said it to spur FreeBSD take more interest in security. (Justifiably or not...)

It's possible that he wanted to cause a commotion.

It's possible that more than one of the above is true. :) He is under no obligation to make a disclosure of an exploit that he finds. Does it make him a bad net-denizen? Perhaps. But it's his prerogative.