I was exploring around the ruins of New Vegas and came upon the North Vegas Square. Did the small questline in the area and made a mental note to really explore those sewers next chance I get. Thing is, the guy who set me off on the quest warned me not to go to the H&H Tools Factory because it was "sealed up" and was covered in traps. Still, he sais, "there might be something valuable in there to you." So, I of course head there. Nothing out of the ordinary really. A few crazed robots, some rigged shot guns, maybe a few land mines, same ol' same ol', except for the terminals which had a few entries that seemed like the owner had gone inside, getting increasingly worse, and then a few emails sent among the employees of the old world company making odd requests such as "picking up the rubber sheets, the riding crop, and the old fake elephant foot and coming over to show me what I've been missing. "... Something to that extent, but I do recall a smiley face being used on several occasions....

Anyway, to the point, after hacking the only terminal in the building that was password protected I was given a few more entries from the mad man running the place before the war, and an option to choose "Lucky 38 Executive Override." A google search has shown me that more than one terminal in the game has the option to choose that, all with the same result. It just sais "starting..." and when going to the Lucky 38 nothing seems out of the ordinary. I also found a VIP keycard for the lucky 38 as well, but I have no idea what it's for.

So can anyone shed some light?

I did that last night and was wondering the same.Perhaps the results of the action wont be seen until the endgame really kicks off.

I think it can give you access to Mr. House without hacking or alerting his Securitrons.

I went and opened the door and the securitrons still turned hostile. Also, I've opened the door 3 different times on 3 different playthroughs and I've done it each and every time without hacking the terminal, it just unlocks itself after you get an objective from someone to kill him

There are surprisingly few things in the game that weren't finished before release, but I think this is one of them. I don't believe the Executive Override actually does anything.

I found H&H really interesting anyway because

Yeah, I kind of toyed with the idea that it just flat out wasn't finished and since it was just in some uneccesary "dungeon" it had slipped their minds to remove it. Oh well...

Either way, it was still worth, because as you said it has some very interesting backstory.