Using Filevault will solve the "security flaw" that's not really a flaw.
The software isn't much other than a password-protected screensaver that comes on when your bluetooth device leaves a certain range. If you shut down your computer, you will be able to start it up to the desktop if there is no password set.
Even if you do have something as little as an account password set (and no encryption mechanism, such as Filevault), anyone with local access to your computer can reset your password from the recovery partition and log in and see your files.
This is meant to be sort of a passive security system, to prevent the occasional wanderer from either seeing what's on your computer, or to prevent someone from posting naughty things from your Facebook account when you walk away for a second. It's not an end-all-be-all security solution, nor do I think it's advertised as one.