Here's a bit taken from the XBoxhacker forum.
"On behalf of the Xbox Linux Team (http://xbox-linux.sf.net), I am proud to announce that at 10:45BST the 'v1.1' secure version of the Xbox was proven to be running arbitrary BIOS code in a normal 256KByte modchip - with no additional hardware required. Â In short, in under a week we were able to normalize the new box to enable it to interoperate with Linux properly.
It seems that the Xecuter modchip people (http://www.x-ecuter.com) beat us to the punch by one day, and we are grateful for some hints they seem to have given us at the very end. Â But we fundamentally each got there on our own.
Work will now continue to integrate the new code into the Xbox Linux booting ROM.
Thanks to everyone who contributed their ideas and worked on the crack, both in Xbox Linux and on XBOXHACKER, we who are about to run Linux salute you"
News source: XBOXHACKER