To quote from the disclosure, "rumpusd is vulnerable to different remotely exploitable heap-based buffer overflows, denial of service conditions and local privilege escalation issues. Due to the fact that Rumpus works under root privileges, successful exploitation by unprivileged users would allow a full compromise of the system."
Some of these are said to be remotely exploitable, others only locally - though they can be exploited by non-admin users.
The suggested workaround is to limit access to Rumpus from remote hosts, but "There's no workaround for some of the local privilege escalation issues".
Alternative FTP servers for Mac OS X include CrushFTP and PureFTPd Manager).