Some time ago, I implemented a new approach which was integrated into the metasploit framework in combination with the msvidctl_mpeg2 exploit. The detection on virustotal.com dropped to zero. Seven months later, it is still undetected. The used encryption was now integrated into the ie_aurora exploit and again the detection dropped to zero.
As zero detection on virustotal.com does not mean that no AV product will catch the exploit in a live environment (the scanners on virustotal will perform mostly static analysis), I tested the aurora exploit against two installed AV products (I'll better not name them) - with encryption, the exploit worked and was not detected anymore.
The key used by the script is transferred as part of the URL, e.g. http://host/exploit.html?<key>