What's he going to do ?

reverse engineering the configuration bit stream of an FPGA, I couldn't even guess how long that might take, then you are presented with a schematic with a couple of million logic gates and the game is determine what it does.

O.K so several years later you can read the logic and work out what it does, now you can implant your evil logic bomb in the code, only slight problem is it only works on the one on your desk, hmmmm you could hack into the SVN server of the producer and replace their production code with your evil code, they might not notice.

As an evil plan goes its not very good. this is why the whole premise is flawed, people only use encrypted configuration bit streams to prevent their I.P from being stolen.

The second problem is the sort of product where they really really don't want Mr Evil Hacker to look at the code, are not for sale commercially and are only available to governments and their agencies.

This is why I think this company is a typical dodgy Cambridge university spin off, they don't even have a phone number.