How Shellcodes Work
Subject:   Writing to executable memory?
Date:   2006-05-22 13:35:09
From:   gryzlo
Response to: Writing to executable memory?

You're missing that this code is being executed when it already resists inside stack, so mentioned write operation is made neither on read/write memory area nor on executable memory area. Stack is a different data area so it's out of operating system's page control.