How important is a website status warning

This site was found on hxtp://badmalweb.com/?p=live and looking into it I found it has a warn status:
htxp://sitecheck.sucuri.net/results/www.cacr.caltech.edu
The same warning was issued on unmasked parasites:
htxp://www.unmaskparasites.com/web-page-options/?url=http//www.cacr.caltech.edu
Application: WordPress 2.8.4 needs updating, making this site suspicious (and vulnerable)
There is a higher than average probability that the user will be exposed to malicious links or payloads,
says BrightCloud scanner with a index of yellow 40
Because of vulnerabilities the W.P. software should be updated and patched,

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