Jeremy, just saw this post a little late... you were not using the moodle interface, and yes were on the old .71 Feb 2011 server which is not representative of current BBB capabilities in anyway.
Since you were using wordpress, and only had one password for students you were had by one of them
Once of your students simply opened another tab, used a name like admin and logged in to disrupt your class with jokes using the common password.
These were AP computer science students right
We host many dedicated servers for colleges, and like Fred said some other real good options in bigbluebutton site for commercial support exist.
You should really try out the .81 version.
Using the moodle plugin allows you to fully control authentication, and record and playback is fully supported.
Regards,
Stephen