yes, that is true.. to override the parental control press X,Y,Left trigger, and then X when at the screen where it asks for the parental code
but this only resets it i believe.. this app will actually display the current code..
so if someone locked your xbox (like your parents) you can find out what the code is and then disable parental control, watch/play what you want, put back the parental control with the same password and they'll NEVER know..
and then of course this app also does the reset DVD Zone, change Video Standard, change Serial Number, change MAC Address, XBOX Factory reset, Anonymous online etc..
I realize that most of this has already been done in one form or another, but at least now it will all be available in one cool app..