It seems like, in light of the mathematical proof, it may be reasonable to say "does not contain exploitable software vulnerabilities".
Unfortunately, it's true that might not be enough to prevent attacks in some settings. For example, see Govindavajhala and Appel's "Using Memory Errors to Attack a Virtual Machine".
https://www.cs.princeton.edu/~appel/papers/memerr.pdf
In this case, they show that even given correct software safety guarantees, they can write a program which requires only one bit flip in any of a large number of RAM locations in order to achieve privilege escalation or violate the safety guarantees. They can then heat or irradiate the DRAM chips and make such a bit flip likely to occur. Since they can't control which bit will flip, it might sometimes crash the computer, but it's more likely to make their attack succeed.
So, one thing to study with systems like this is whether hardware fault injection can compromise the security guarantees in a way that would allow an attack to succeed.