If you read about this story on TechCrunch, note that the "write up explaining all the details" is about an unrelated vulnerability.
I'll try to briefly explain the problem and then show how it relates to Facebook and MySpace. For more background information, please refer to these prior posts:
Cross-Domain Ajax Insecurity, which discusses why true cross-domain Ajax is a bad idea, despite many misinformed Ajax developers claiming it's safe.
Web technologies that abide by the same-origin policy cannot reside on one site and interact with another. To be a little more specific, if you visit my site, I can't make you update your status on Twitter . If I