What is Rexec?

I was surfing the web for blender stuff and found this:

http://projects.blender.org/pipermail/bf-committers/2003-May/002963.html

I think it is talking about a Python module called rexec (Restricted execution framework). Does anyone understand what this thing does?

http://docs.python.org/lib/module-rexec.html

There appears to be controversy about using it due to security issues. YMMV depending on the application…