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I guess there's next to no chance that they'll release a security update to 7.x for people like me who want to keep their phone on 7?
 
If it was realized a day ago, then it wasn't patched in iOS 8. It probably won't be in iOS 8.0.1 either since that's due for a release any day now.

Probably in 8.1 which is due out with Yosemite and the new iPads in mid/late October.

Unfortunately, I can't see an iOS 8 jailbreak before mid/late October, but who knows.
 
One of the comments in that link mentioned it was already patched in 8 & linked this doc: http://support.apple.com/kb/HT6441?viewlocale=en_US&locale=en_US There's certainly a Core Graphics exploit listed in there that deals with malicious PDF files.

Apple seems unlikely to go back and fix this for us who want to stay on 7, though there was some discussion in the comments indicating that perhaps they'll fix it for those using the iPhone 4, which can't update to iOS 8. But for JBers on 7, I think we're stuck hoping for a patch to pop up really soon...
 
I doubt it.
There was plenty of bugs and security exploits on other last kind of ios versions. They never updated those unsupported devices any more. They just patched up the holes on the latest ios version and left the old unsupported devices high and dry on old firmware.
 
I don't think it's much to be concerned about. I have an old G5 Power Mac running OS 10.5.8 and it is not infected with any malware or viruses never has been. Yep still stable rocksolid without any Apple patches for years now. I wouldn't be scared to keep an old phone on old firmware vulnerabilities or no.
 
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