It's a great feature! I have used it in training sessions by giving each student their own login on my laptop, with the ssh shell restricted to 'screen -x <specific user's window>' - the only window that user could use based on screen's ACLs. Then during exercises I (as the owner of the screen) could switch to each student's screen on the projector so the class could see what they had done.

Not surprised to hear it's full of security holes. :)