Someone has found out the code to unlock stuff, he just unlocked all the hats in 10 seconds.
Explanation time.
Alright, so as many people know, Valve has decided to use their Steam Cloud server to handle the new unlocks. This prevents people from using "console commands" to just get all of the items. However, since Steam Cloud is connected to the individual clients, only the clients know when they get items. This is why Valve put an
event, vocabulary word, into the clients that tells the server they got an item. The server then announces it into the chat so everyone can admire the client.
This event is just the client telling the server that it got something. Just a message. A number of people, including myself, know how to trigger said event, and trick the server into making it think we got an item. We do not actually get the item, but the server doesn't know any better so it displays the message and everyone goes "WTF?"
Get it? ;)