Looking at EGEM chat, it sounds like it's a really serious issue.

So even the core devs of PIRL and EGEm don't have access to the wallet. It's because they don't have the private key since it was originally the Eth dev's wallet in the eth code.

...that means Vitalik is sitting their comfy knowing he can move those coins cuz he has the original private key (unless he doesn't.)

...It also means if anyone tries to clone eth, Vitalik will always have that private key if the devs miss this kind of a premine.

LOL this is great.