I've talked with Rofl about this, but not sure if anything was done about it.
Currently, the website is vulnerable to session hijacking. With session hijacking, a hacker can gain access to any account registered on the site. It's a fairly simple process, and the hardest part would be cracking your salted sha1 hash.
Upon login, the client gains 2 cookies. Only 1 of these cookies is required to stay logged in [the PHPSESSID]. The cookie responsible for authenticating is the SMFCookie680, which, when decoded, clearly states the password in salted sha1. For example, mine is: ae01251fda9aa8400a457eb1d3ab3ac0581895de. Deleting the SMFCookie680 after logging in doesn't automatically log you out.
My suggestion is to keep the SMFCookie680, and make it so every time the user loads a new page, it checks if both the PHPSESSID cookie and the SMFCookie680 are what they're supposed to be. There are several articles that would help in implementing this. I find this article to be the most helpful:
http://phpsec.org/projects/guide/4.htmlIf you require more assistance let me know. This topic is aimed at the web developer.