There is a security loophole to the edit post feature which allows people to edit their messages beyond the time allowed by the Admin in the CP.
All a user has to do is write a post, open up the edit post screen, and then he can edit that message at whatever time he desires, even if it is past the limit allowed by the Admin.
This poses a huge security threat to things like competitions, etc. Can we have a secure way of editing posts in v7 that will not allow for users to edit their messages in any way beyond the time allowed?