Where are you getting this? Is there a perldoc PerlApp you are looking at?
The ActiveState PDK3.0 docs clearly state the purpose of PerlApp. It Turns your Perl scripts into executables, so that you can run Perl scripts on computers without installing Perl.
Maybe ActiveState stated the security business in previous versions of PerlApp or PDKs. And then again, perhaps they realized the folly of protecting IP. I'm sure they wouldn't want to be liable for someone's IP being compromised using their product.
Please post the relevant documentation so I can understand what you and tachyon are saying. No offense, but I think you guys are getting worked up over a fallacy.