Are there details about the file-traversal one?
For example:
Symlink: public/foo -> /secret/path/not_very_secret
An attacker could request /foo/../really_secret, which the OS would interpret as /secret/path/really_secret and happily serve up.
The attacker is limited in the number of ".." components they can add to the path by the number of real path components that precede it, i.e. they still cannot do /foo/../../../etc/passwd
The fixed version of rack correctly removes ".." path components before passing the resulting path to the OS, i.e. "/foo/../really_secret" is translated to "/really_secret", and results in a 404 error instead of a security breach.
This vulnerability is particularly concerning for Rails apps deployed using Capistrano (unless config.serve_static_assets = false). This is because there are typically symlinks from public/assets and public/system to the corresponding directories under the Capistrano deploy's "shared" directory, and also under "shared" are typically things like logs, configuration, and a copy of the application code!
Fortunately, Rails ships by default with a production configuration that sets serve_static_assets to false, relying on the frontend web server to serve up all static content (so the attacker will just get a 404). This directory traversal bug is not present in current versions of Apache or nginx.
The relevant commit [2] and an explanations of equivalent vulnerabilities [3][4]
[1] http://www.youtube.com/watch?v=ehxjAq59xEw
[2] https://github.com/rack/rack/commit/0cd7e9aa397f8ebb3b8481d6...
[3] http://rdist.root.org/2009/05/28/timing-attack-in-google-key...
Any other frameworks/libs that use Rack's session cookies should upgrade though, afaik.