There have also been rumors, however, that Braidwood has been canceled, at least in the near term:
http://www.dvhardware.net/article37368.html

Yes, security is an issue, but I don't buy your idea that this model can only work for less secure things like TV commercials.

With the proper encryption, I think these render farms could be used for applications where high security is needed.

Your argument is somewhat similar to saying that online commerce will never take off because the risk of snooping is too great.