Hidden Text, Its Still Out There

I started work on a potential client this morning and looking over the vast number of pages I discovered that their previous so-called SEO outfit (who had promised to get them listed on Google) had used the mystical art of hiding text on the page.... I have to admit I was highly surprised, I really cannot believe people were still using this technique to place keyword phrases.

Heres a screenshot (client details removed to avoid embarrassment):










I'm astonished that some people still think that adjusting text to a similar shade (so its not obvious) on a web page is good SEO. I thought this type of SEO Spamming went out of fashion in 2001!