Well, that was fast - just 5 days after a vulnerability was first reported, Skype has released a new version of Skype for Android that fixes the privacy vulnerability. According to Skype's Adrian Asher:

After a period of developing and testing we have released a new version of the Skype for Android application onto the Android Market, containing a fix to the vulnerability reported to us. Please update to this version as soon as possible in order to help protect your information.