Q, Atlas and Cutaway gave a presentation at the Shmoocon 2011 conference held recently in Washington, DC, concerning interception techniques for Frequency Hopping Spread Spectrum (FHSS) radio signals. They demonstrate the use of low-cost, easily obtained hardware/software to conduct predictive channel hopping analysis coupled with crude spectrum analysis and ultimately identify any given hopping pattern in the 902-928MHz spectrum. Their tools purport to identify the hopping pattern of a given FHSS cell within 24-48 hours given sufficient traffic. Upon conclusion this project will demonstrate that 900MHz-based FHSS attacks exist and will eventually affect the confidentiality and integrity of data transferred in the clear across what many organizations consider a “secure-as-is” solution.
The FHSS patent they reference can be found here.

Pretty unwatchable talk style, caught enough to get the main points though…
My main counter point is how private does data need to be? Most of the time not very. Encrypting everything will just add to hardware burden and cost and reduce battery life. For military applications maybe it matters, but for 99% of wireless stuff it hardly matters at all…
project homepage: https://code.google.com/p/hedyattack/
@Brian
Of course. Do not worry. Just install wireless security system and wireless door lock and be happy because you know, for 99% of the wireless stuff any security hardly matters.
But also except me to tell you that I told you so when your system gets hacked by burglars and your stuff gets stolen.
I hope that you are not at home at the same time because you may be not even able to turn on the lights with your wireless light switches.
But still do not worry because harm will be only local and for
99,99999999% of the people it does really not matter.