Unfortunately this is alot worse than made out in Paul's post.
None of I-Webs servers were affected in this bug, we secured the servers as soon as the patch was released. Unfortunately a number of other hosts were victims even before the bug was widely known.
What did the bug do : Well it allowed someone to use the server as their own, allowing them to input code into other peoples files.
Then what? : If a user then visited your site, due to an exploit in IE too, a keylogger was installed into there system.
A key logger? : Yes, it basically logs every key you press and sends it to a remote server. This includes capturing login details for e-mail, online banking etc.
How do i know if i have been affected? : Apparently this site should crash if you are affected
http://www.isotf.org/zert/testvml.htm
If that site crashes, then it is highly likely you are affected by this exploit, that was delivered using an exploit in cPanel.
Again, i would just like to clarify that none of the I-Web servers fell victim to this bug.