If vim modelines are enabled, it's possible to create a file which, when opened in vim, will really screw things up for the user. Under certain circumstances it is also possible to execute arbitrary code as the user running vim. I've emailed upstream regarding the issue, security@ is on the Cc: list. I suspect there're a few more similar attacks that I haven't thought of. Awaiting upstream's response before we go any further. Note that modelines are disabled by default in the Gentoo-provided vimrc, but many users turn them on anyway.
*** This bug has been marked as a duplicate of 73715 ***