Oups, I was out of the loop for a long time, but it seems they can now run self-signed code on the hard-drive. This is still not a flaw in bluray, but a flaw in the PS3 hypervisor (once you can run code, it's over). You still can't "copy" a bluray game disk, each one needs to be cracked and patched individually. The PS3 code-signing is what was compromised, it has nothing to do with the physical media, that hack would have compromised any media security, including hardware dongles, and carts. The reverse situation isn't true, however. If the physical media was cracked (which is what we're talking about), it would allow replicating disks without having to crack the code-signing. So the bluray security layer is still doing what it's supposed to do, you can't make exact copies, and your code can detect it.
Where do you read that? Or are you meaning the old firmwares? I have been semi watching what's happening in ps3 hacking scene and those "I can run code on ps3" proved out to be lies so far.
AFAIK. this is the status and there is absolutely no running custom code on latest firmwares: http://ps3.dashhacks.com/2012/01/19/kakarotos-jailbreak-status-update