WordPress 4.2.3 has just been released and fixes a critical XSS vulnerability that requires immediate patching.
The fix for this vulnerability is well hidden in commit 33360, where major portions of the shortcode functionality has been rewritten.
More specifically, the fix is in the files wp-includes/kses.php and wp-includes/shortcodes.php.
Feel free to browse through the patch and don’t forget to update your WordPress installations in the meantime.
If you’ve enabled the auto-update feature of WordPress, you’ll find WordPress did you a favour and auto-patched it already.