My Hosting Company Discovered Security Issue in Network Theme

Just an FYI -- My hosting company sent me an email with the following:

"Dear customer,

"This is a courtesy notice that we have found and corrected exploitable timthumb.php file(s) on your solofirm.net account, which are listed below. While we have corrected these files, we do recommend you ensure all potential exploits are corrected on your account. This is best done by updating all scripts, plugins, modules and themes on your account to the latest version.

"As the owner of the account, you are responsible for keeping your hosted content free of malicious software. For technical assistance, you can also reach our chat team from Bluehost.com or by going directly to:

"http://www.bluehost.com/chat

"The timthumb.php file is a script commonly used in WordPress's (and other software's) themes and plugins to resize images. The exploit allows an attacker to arbitrarily upload and create files and/or folders on your account, which can then be used for a number of malicious tasks, including but not limited to defacement, browser high-jacking and infection, data harvesting and more. After a site has been exploited, it may lead to becoming labeled a "Malicious Website" by Google or other security authorities.

"Any timthumb.php file below version 1.35, but above version 1.09 is considered vulnerable, unless patched. To prevent being compromised, we advise you update all instances of timthumb.php to version 2.0, or patch the existing vulnerable files. Note that patching the files requires more in-depth knowledge of the PHP scripting language.

"The updated version of timthumb.php can be found here:

"http://timthumb.googlecode.com/svn/trunk/timthumb.php

"We have automatically patched the following files for you:

"/home4/solofirm/public_html/wp-content/themes/network/library/functions/timthumb.php"