Well I filed a bug report Bug ID# 9064149 with Apple many months ago and just got this reply.
“We are closing this bug since our engineers are aware of the issue and will continue to track it.”
Ok not exactly what I wanted but at least they are now aware of the issue. Note that IOS does not require admin privileges to open ports below 1024 for UDP Packets.
Why do I want this change in OS X. Well this is a historic security measure when people used to stick to this lower range for their applications. In todays modern age this serves no purpose as I can just open and listen on a port above 1024 anyway. The restriction was relaxed in IOS so my Wake On Lan monitor can monitor any port, and judging by the downloads either a lot of people want this functionality or they are extremely disappointed when they realise this is a monitoring app and does not wake their machine up.