No, This is not a security hole in Outlook. It is just one of the creative ways to make use of Rules feature in outlook.
I am not sure about yours, but my computer is always connected to the internet when it is switched on. And it is switched on unless there is a power cut at my place
Many a times, I have felt like controlling my downloads, reset modem, shut down my comp or lock it after I realize I have kept it open. Although there are a lot of ways you can do it(see logmein, VNC, VNC on lifehacker), if all you want to do is run simple scripts or launch an application, look no further. You can set up Outlook to do the work for you.
Go to Tools –> Rules and Alerts
Click on New Rule, add any rule which is convenient to you. I have chosen “Move messages with specific words in the subject to a folder” and click next. Specify an uncommon word in your subject lines in this field “986786374shutdown” and then when a dialog box appears asking you “What do you want to do with the message?”.
Edit the rule descriptor by clicking on ‘application’. Select the application which needs to be run when you send a message with the subject line which you had set before.
if you want to run dos commands – you can create a .bat file and put you commands in that.
ex: if you want to shutdown your machine : shutdown –s –t 10
That’s it, now you can control your machine by sending email to yourself. It’s as simple as that.
I use this to start my download manager, shutdown my computer etc. Let me know what you would use it for.