default_password_nag_edit_user( int $user_ID, object $old_data )

function default_password_nag_edit_user($user_ID, $old_data) {
	// Short-circuit it.
	if ( ! get_user_option('default_password_nag', $user_ID) )
		return;

	$new_data = get_userdata($user_ID);

	// Remove the nag if the password has been changed.
	if ( $new_data->user_pass != $old_data->user_pass ) {
		delete_user_setting('default_password_nag');
		update_user_option($user_ID, 'default_password_nag', false, true);
	}
}