The team has worked out the two former bugs and is scheduled to get the respective fixes onto the public test server in the next update. Work on the latter issue is in "the later stage of testing," and the team hopes to be able to roll it out onto the live servers "very soon." Here's to hoping that when Zoeller says soon, he means "soon" and not "soon™."
[Update: A second dev blog, this one by BioWare's Jeff Hickman, explains the situation with Ilum PvP and why the team decided not to rollback Valor points in the wake of recent exploits. He does promise that the team will use game metrics to take action against the worst offenders if merited.]