You are more than likely better off waiting to see what move paradox take at this time, i value my job more than e-fame in which case you can even consider this video a fake if it helps you sleep better at night.
Beside that i've already given detailed documentation covering the flaw to sony, as stated in my contract, and not given specific details to the public, as covered in my NDA's, the video is purely to show (without leading too obviously to the hole) that the system is exploitable.
If paradox are using this same hole is at-best, guess work at this time though i do not beleive they are, especially if they are restricted to a specific firmware range, however we shall see in due time, if paradox decide to break the cycle of being the first to announce and the last (if ever) to deliver in terms of console exploitation.
p.s. paradox : no hate intended, it's just getting a bit old.
Also i shall clarify what is happening in the video.
Set boot method from PS3 to OtherOS
Hold ps button : shutdown
Boot ps3, loader boots.
select raw disk image
image is mounted ("loading...")
image is booted...
when exiting the game, the machine powers off, when switched back on it returns to image selections screen.