USE test;

CREATE TABLE t1 (
 id INT NOT NULL PRIMARY KEY auto_increment,
 col1 char(255)
) ENGINE=MyISAM;

CREATE TABLE t2 (
 id INT NOT NULL PRIMARY KEY auto_increment,
 col1 char(255)
) ENGINE=MyISAM;

CREATE TABLE t3 (
 id INT NOT NULL PRIMARY KEY auto_increment,
 col1 char(255)
) ENGINE=MyISAM;

CREATE VIEW v1 AS SELECT * FROM t1;
CREATE VIEW v2 AS SELECT * FROM t2;

INSERT INTO t1 SELECT NULL, REPEAT('a', 255);
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;
INSERT INTO t1 SELECT NULL, REPEAT('a', 255) FROM t1;

INSERT INTO t2 SELECT * FROM t1;
INSERT INTO t3 SELECT * FROM t1;

-- Run mysqlhotcopy command:
mysqlhotcopy -h 127.0.0.1 -P 5616 -u msandbox -p msandbox test /tmp

-- While command is running, concurrent update to t3 should not be possible, but it is:

mysql> UPDATE t3 SET col1 = 'new value' where id = 1234;
Query OK, 1 row affected (0.00 sec)
Rows matched: 1  Changed: 1  Warnings: 0


The reason is because of the order of commands.  From the general log:

140416 19:13:25	   25 Connect	msandbox@localhost on
		   25 Query	show variables like 'datadir'
		   25 Query	SHOW FULL TABLES FROM `test` WHERE Table_type = 'BASE TABLE'
		   25 Query	SHOW FULL TABLES FROM `test` WHERE Table_type = 'VIEW'
		   25 Query	FLUSH TABLES `test`.`t1`, `test`.`t2`, `test`.`t3` WITH READ LOCK
		   25 Query	LOCK TABLES `test`.`v1` READ, `test`.`v2` READ

The LOCK TABLES on the v1 and v2 VIEWs releases the locks held by the FLUSH TABLES command.
FLUSH TABLES is also not supported by views.