I HAD nightmares initially when I researched through the Examination report, noticing excellent scores by the Matrices kids in 2009. However, as 'onerealsmartass' said, they have to account for the less capable - Mathematically. They'd try to make it 'tricky', knowing VCAA and what they've done in other subjects (such as Methods CAS Exam 2 etc).
Otherwise, look I have spamed as many old VCAA and other company exams for all thats available and as some members have mentioned in other posts exams such as Neap 2007 or Insight 2006/2007 Matrices is hard as it can get - And mind you, it's not hard as in 'difficult', rather it's hard in the sense of more time consuming than what you'd expect with the Matrices section!
So weighing that up, and considering the impact of a crazy tough exam on some students might stuff up the bell curve, I am sure they would not make it crazy.