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The uuid module uses Mersenne Twister from the random module as last fallback. However a MT isn't suitable for cryptographic purposes. The module should first try to use os.urandom() and then perhaps use its own instance of random.Random, similar to uuid_generate_* [1]
The problem doesn't apply to most modern platforms as the uuid module uses either libuuid or the Windows API with ctypes. Therefore I consider the real world severity as low. It may not require a backport to Python 2.x.
[1] http://linux.die.net/man/3/uuid_generate