Following the April security advisory, I tried to update to the recommended version of smileys:
smileys-5.x-1.2
I was previously using smileys-5.x-1.2-beta. Before actually switching, I made a diff between the two versions to see what had changed, and I was surprised that the the latest, recommended release is actually a regression compared to the earlier -alpha release:

files that are more up to date in the earlier beta version:

diff -upr smileys-5.x-1.2-beta/CHANGELOG.txt smileys-5.x-1.2/CHANGELOG.txt
--- smileys-5.x-1.2-beta/CHANGELOG.txt  2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/CHANGELOG.txt 2006-11-16 00:24:20.000000000 -0800

diff -upr smileys-5.x-1.2-beta/README.txt smileys-5.x-1.2/README.txt
--- smileys-5.x-1.2-beta/README.txt 2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/README.txt  2004-10-13 06:01:43.000000000 -0700

diff -upr smileys-5.x-1.2-beta/smileys.css smileys-5.x-1.2/smileys.css
--- smileys-5.x-1.2-beta/smileys.css  2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys.css 2006-11-16 00:24:20.000000000 -0800

diff -upr smileys-5.x-1.2-beta/smileys.install smileys-5.x-1.2/smileys.install
--- smileys-5.x-1.2-beta/smileys.install  2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys.install 2006-11-25 11:59:37.000000000 -0800


diff -upr smileys-5.x-1.2-beta/smileys.js smileys-5.x-1.2/smileys.js
--- smileys-5.x-1.2-beta/smileys.js 2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys.js  2006-11-16 00:24:20.000000000 -0800



diff -upr smileys-5.x-1.2-beta/smileys.module smileys-5.x-1.2/smileys.module
--- smileys-5.x-1.2-beta/smileys.module 2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys.module  2006-11-25 12:23:54.000000000 -0800


diff -upr smileys-5.x-1.2-beta/smileys_import.module smileys-5.x-1.2/smileys_import.module
--- smileys-5.x-1.2-beta/smileys_import.module  2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys_import.module 2006-11-16 00:24:20.000000000 -0800

files that are more up to date in the current version version:


diff -upr smileys-5.x-1.2-beta/smileys.info smileys-5.x-1.2/smileys.info
--- smileys-5.x-1.2-beta/smileys.info 2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys.info  2010-04-07 11:20:08.000000000 -0700


diff -upr smileys-5.x-1.2-beta/smileys_import.info smileys-5.x-1.2/smileys_import.info
--- smileys-5.x-1.2-beta/smileys_import.info  2009-09-30 22:30:27.000000000 -0700
+++ smileys-5.x-1.2/smileys_import.info 2010-04-07 11:20:08.000000000 -0700

Something is very wrong in the packaging / branching of the module!!