That's true that it allows faster-than-light communication is some sense, however it is not clear if it is possible to use quantum entanglement for faster than light information transfer: to extract the particle stat one has to perform a measurement which immediately destroys the state it is in.
It is unlikely that quantum entanglement allows FTL signalling of any kind. I also believe it is accepted among physicist that it doesn't allow actual FTL communication.
The classic EPR experiment run thus: magically create a pair of entangled photons, send them in opposite directions. Have them pass through polarised filters of the same direction. Now, the instant a scientist on one side see the photons pass through the filter, she knows the photon on the other side won't get through (and vice-versa). You will notice that the photons don't travel faster than light. So, the obvious explanation will be some kind of common cause. A "hidden variable", that will kinda determine in which direction the photons goes through.
Turns out, there is no hidden variable (Bell's Theorem). So, FTL? Not yet: there may be a third alternative: Many Worlds. Remember Schroedinger's cat? Well, after the experiment, there are two of them: the dead one, and the live one. (No, you don't get to see the other cat, just like your other self doesn't get to see yours.)
Likewise, in the EPR experiment, the scientist merely learn in which blob they are. Though I believe we don't know exactly how decoherence works in this particular case. I'd be surprised however if it actually involved something as complicated as wormholes, or even another dimension.
