Well, that was fast. A poster by the name of StreetskaterFU has outlined what he claims is a method of hacking into PlayStation Home's servers for download, uploading and deleting files. We're not able to verify his directions, but if true it would be a potentially calamitous oversight on Sony's part. Additionally, a PS3hax forum poster claims to have used StreeskaterFU's method and changed the movie posters and trailers (looks like it only affects what he sees locally; video embedded after the break). We haven't seen any signs of hacker malfeasance during our time with Home, but let us know if your virtual moviegoing experience has been drastically altered.
Read - HOME vulnerabilities disclosure
Read - How to mod Home with your own posters and movies