By working exploit it means it executed a few bytes of ARM assembler, so don't get your hopes up yet... there's a ways to go between that an a full jailbreak.
iphone jailbreak is a matter of days away so I hope the devs don't stop working on touch compatible stuff before a break for the touch is made.
Last I heard they were thinking of making the exploit patch itself after jailbreak, because at the moment every single iphone and itouch is vulnerable to this bug - and once the method is known the virus writers/spammers will have a field day.