What does a challenge to break an web mail system and get $10,000, broken within minutes prove? Is it a lesson in vanity? Or about the state of web security? Or about security in general. Probably all.
The most obvious observatoins is that offering $10,000 for anyone who can break your site and being broken within an hour shows that you don't know what you taking about. Maybe it would be a lesson to all security vendors to not believe their own marketing verbiage. A quick browse of the bugtraq vulnerability archives will show how insecure and easy to evade security products can be.
However, judging from the number and seriousness of the incidents reported on the web hacking incidents database, StrongWebmail is not alone and far stronger companies suffers severe incidents, making web applications the weakest link in an organizations information security.
Lastly, we should always remember that there is never perfect security. By making systems more secure we are just raising the price required to attack them and lowering the damage of such an attack, but never. As the old joke goes: the only secure system is one without users.