If by maliciously you mean a virus might take advantage of the system in those 5 minute, the answer is, yes, it is possible... not likely, but possible.
If the question was, can the shell by itself escalate a command that does not have sudo in front of the command, the answer is no. If it did that, than there are some serious bugs in the code... or some malicious code planted in it. By definition, it's not supposed to do what you don't tell it to do.
My point was, it flopped as a standard. It's not that it's good or bad, it's just not used any more, there are no new devices with FireWire. USB killed it essentially. The same will happen with Thunderbolt, USB 3.x will kill it.
I seriously doubt there will be something that will replace USB. It's backwards compatible to oblivion and just supports newer and newer things. It's very hard to beat that.