WooThemes has just quietly bumped the version number and fixed their updater bug so this is now fixed:
2012.04.29 - version 5.3.11 - critical
* - SECURITY UPDATE - Shortcode preview feature removed in previous version due to potential exploit.
* admin-functions.php - Make sure PressTrends banner displays only for PressTrends-enabled themes.
I hope that in the future WooThemes (and the WordPress community as a whole) takes security more seriously and notifies their customers more rapidly about these sorts of problems.
2012.04.29 - version 5.3.11 - critical * - SECURITY UPDATE - Shortcode preview feature removed in previous version due to potential exploit. * admin-functions.php - Make sure PressTrends banner displays only for PressTrends-enabled themes.
I hope that in the future WooThemes (and the WordPress community as a whole) takes security more seriously and notifies their customers more rapidly about these sorts of problems.
Thanks to everyone who commented!