Just upgraded a site to 4.6.11 (long story as to why).
CiviCRM is showing the "Security update required", which links to https://civicrm.org/advisory
As I click on advisory after advisory, in reverse chronological order starting from "CIVI-SA-2015-011: REFLECTED XSS IN ERROR MESSAGE", all have been fixed prior to 4.6.11.
So ... what is the vulnerability then, if I don't upgrade to 4.7.1?