I'm surprised this hadn't been picked up by the security conscious
iOS crowd Android bashers.
I've tried it and it took ages to do 30+ minutes, essentially you've got to hammer the sh!t out of the lock screen in a certain sequence to use it's available memory and crash out of it. One thing I noticed is that the notifications won't slide down just like they won't while the lock screen in enabled. Otherwise you've got full access to the phone.
https://www.youtube.com/watch?v=-lyrtIn9q6g&feature=youtube_gdata_player