WPA-TKIP broken and cracked in less than 60 sec

Uh-oh... So this Japanese team claims they will break WPA-TKIP in less than 60 seconds and demonstration of this will be at IEICE in Hiroshima September 25th. As there are not so few of these implementations around the globe this will take WiFi security into a totally new level. This will also affect my favorite PCI-DSS in a major way since WPA is concidered safe, and even WEP is acceptable, if certain conditions are met. Mind you, this only affects WPA-TKIP, not WPA-AES nor WPA2. Pheww... or?

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