Sounds like the module's developers needs to step up to the plate and fix this issue. It's a great module and lots of people want to implement it but not without this security risk that can - as another poster in this thread stated - "drop the drawers" on your site.
I have painstakingly implemented a so-so solution to workaround this issue. It may not be the best way of doing it and look forward to others innovating on the idea.
My thought was to edit the stored procedure WhatsNew_GetNewStuff by adding in some lines to exclude certain pages and/or modules from even appearing on the page.
Edit this section and add in the bold:
SET ROWCOUNT @MaxNumber
SELECT si.SearchItemID,
si.ModuleID,
t.TabID,
si.Title,
u.FirstName + ' ' + u.LastName As Author,
si.Description,
si.PubDate,
si.SearchKey,
si.Guid,
si.ImageFileId
FROM dbo.dnn_SearchItem si
INNER JOIN #TempTable t ON si.SearchItemID = t.SearchItemID
LEFT OUTER JOIN dbo.dnn_Users u ON si.Author = u.UserID
WHERE
-- Exclude pages you don't want to appear
TabID <> '61' -- account info page
AND TabID <> '78' -- login page
AND TabID <> '80' -- search page
-- etc
-- Exclude modules you don't want to appear
AND ModuleID <> '415' -- comment module
AND ModuleID <> '416' -- instruction module
AND ModuleID <> '442' -- footer module
-- etc
-- This is ecktwo's recommendation per http://www.innovatasites.com/ecktwo/tabid/1491/Default.aspx
AND si.SearchKey not like '%' + cast(si.moduleid as nvarchar(100)) + '%'
ORDER BY si.PubDate DESC
GO
Comment the exclusions so you can easily edit the stored procedure in the future. Granted, this will not work quite so easily on sites that have lots of content not viewable by the public.
My point here is to merely offer a workaround that others may be able to improve upon.