At the current time, yes, your console is flagged for a ban since it has a logged ap2.5 challenge failure. As soon as you sign onto Live (not sure you have already), then this security event will be "uploaded", or whatever MS does to gather this info. The next time they do a wave ban (which could be anytime) then your console will get the hammer... sorry.
Like I said, I'm not sure if there's a way around this in the new dash. In older dashes it was possible to unflag it but I don't know about the new ones. Never had to try (IMG:
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