Can confirm it for my Win7 installation. Open cmd then cd c:\$MFT and your system freezes up. Ctrl-Alt-Del doesn't help, but you can still open one (but completely useless) Explorer window. I didn't get a bluescreen. It's weird.
Update: A hard reset helped and everything is fine again.
I wonder how that works actually, would be interesting to find out. The site reports a 'possible' blue screen. Does this mean there's a mechanism which watches for the file system (or whatever) to lock up and if that happens reports a stop error? Or does the error rather occur because some critical component locks up and doesn't like that? Or does the blue screen actually not occur at all for this particular bug and was it just added to the article?
Based on the error on the blue screen (KERNEL_DATA_INPAGE_ERROR), I'm guessing the blue screen is from a failed paging operation. Which, of course, would have failed due to the file system being deadlocked. Note that the filesystem is still available, so I'm not sure how a monitor would help here. It didn't crash or anything.
EDIT: Specifically, it looks like it's actual kernel memory that fails to load from a page file that causes that specific error.
Speculating here: My system has already loaded everything so I didn't get a bluescreen. Because everything ground to a halt waiting for the filesystem it didn't proceed enough to encounter something really fatal.
Update: A hard reset helped and everything is fine again.