Switches by default do hardware based switching
This is true.
so it should not impact the processor because of the increase in traffic.
Ummmm ... This is not necessarily true. Ok, let's not talk about exploit for now. Let's talk about a method of completely shutting down your network. My favorite is SNMP. Let's presume that your SNMP Read-Write community string is "private" (by default) and you haven't changed it. All I do is plug my laptop into a live port and get a valid IP address. What I then do is send an SNMP string to ERASE the config of your switch. My next string would be to reboot your switch.
The are several ways of making exploits to your network difficult. It's not foolproof but it will make malicious people work harder. Another way is to regularly check the Cisco Security Advisories and Responses.
All I can say is DON'T BE COMPLAISANT. The over-used/abused line of "this bug won't affect us because we don't use this feature", in the (very) fast pace of technology, doesn't hold water for me.
To go back to your query, bottom line is this: Who is paying the person who made the comment? IF it's you then you TELL the person to initiate security measures. Don't let your guard down or the next thing you'll know someone will tell you that your network has been compromised and it's all over the net.
