if you are referring to the exploit “Linux vmsplice Local Root”, it was successful on any distro including virtual machines, till a patch that was promptly released around February this year
A screenshot, which shows that a normal user can acquire root privileges simply running the executable from a small portion of code, which was also publicly released, if you want i can give it to you: http://img253.imageshack.us/img253/9775/vmexploitworkedio0.png
If you patch your machine, whatever distro it is, the exploit will not work any more.
In my case i had 2 CentOS systems, 2 Fedora Virtual Machines and 4 Opensuse. The kernel was updated from 2.6.18-53.1.6 to 2.6.18-53.1.13 for the CentOS and from 2.6.21.2950 to 2.6.21.2957 for the others
I am not sure what to change in the kernel in order to have this exploit to work again, anyway you can either downgrade the kernel, or better install some distro released before February 2008 and not patching or updating the kernel, that way the exploit will succeed.