I work as a software engineer writing Bluetooth device firmware at my job, and the vulnerability in the BLE pairing protocol has been known for quite awhile. If we're concerned about security, we just encrypt the data ourselves in the application before sending it over the wireless link. I'm surprised Google didn't take the same approach, or fix their Bluetooth stack implementation to support 128-bit out of band keying.
By the way, Apple also does not currently support Bluetooth's out of band keying feature, and I really wish both companies would support it sometime soon.