@YankeeDudeL,
Update: It's a flaw. I was able to replicate it easily. I missed an easy step which is to actually answer the incoming call, then press back button Yes, it does give you access to the entire phone's contents. Obviously not good. We'll see how long it takes Motorola/Verizon to fix the security issue. You'd think they would have tested this first, no? Apparently this only impacts Android 2.0.1 devices(such as the Droid)