It's probably quicker for me to suggest you read the thread on the forum of Menopause Matters website.
www.menopausematters.co.uk/forum/index.php/topic,32927.0.html
There is a statement there from Dr Heather Currie, chairman of the British Menopause Society, a link to the BMS' own press release on it www.menopausematters.co.uk/newsitem.php?recordID=174/RCOG-BMS-response-to-Breast-Cancer-Now-Generations-Study-on-HRT-use-and-breast-cancer-risk
and a link to the actual research paper itself- which has so far only been published in Nature magazine, not fully released.
Nature journal
It's vital to appreciate that this research shows nothing new and the drugs included in the study did not include progesterone. Progesterone is a natural hormone, available for HRT as 'micronised progesterone' trade name Utrogestan.
The types of HRT used in the research- which I have read from the web- were HRT pills and patches which used 'progestogens' - these are forms of synthetic progesterone.
The figures show an increase, depending on BMI, from 1.00 to 3.2. So 2 more cases per 100. The confidence interval for these is huge (CI 95%) so these figures above are an average - they could be lower they could be higher.
The report is based on observational studies where women reported their experiences. It is not a double blind placebo trial. There is no weighting for lifestyle such as drinking or being sedentary, or family history. That is why the BMS says 'it has flaws'.
It's important to put the stats - if they are right- into perspective because both drinking 2 units a day or being overweight, raise the risks higher than using HRT.