Well crap
I suppose every noob makes mistakes, and let it be known throughout, this might have been my first one. I back this campaign, and was watching it right down to it's close. And indeed, there were no new backers in the last hour, but in the last 30 seconds, someone pledged just over $600. An existing "backer". Needless to say, I thought it was a tad fishy. Had I seen this thread, or even bothered to check his history, I would have steered clear.
He's had one small update since it's close, where other projects I've seen have rolled out regular updates even after the funding has closed. Guess we will see how this shakes down. Regardless, lesson learned.