Adobe just released Security Bulletin APSB08-21 for a ColdFusion privilege escalation issue. The issue described in Security Bulletin APSB08-21 is only applicable to your ColdFusion installation if you are using Sandbox Security. If you have configured a Sandbox to limit access to specific parts of the filesystem it may be possible to access information outside the Sandbox. This issue is particularly important for shared hosting servers because they are the most likely to have Sandbox Security enabled.
There are patches available for ColdFusion 7.0.2, 8.0.0 and 8.0.1. At Prisma IT we have been testing the patch for ColdFusion 8.0.1 for a while now and we have not found any side effects from applying it to our shared hosting servers.
If you are a ColdFusion user and this blog post is the first you read about this issue you really should subscribe to the Adobe Security Notification Service. You will get emails for all the important security updates from Adobe and it is an invaluable tool to staying on top of security.