Stumbled accross this thing just now. I have heard of this method of flash hacking, but I didnt realise it was so easy to do nor people had actually made special applications to do it!
I guess I need to think of ways of hiding these critical variables within my code, or perform some sort of sanity checks perhaps.
EDIT: Quasimondo on Twitter informs me that "The Cheat Engine" appears to be the default tool of the trade for flash memory hacking.