Java SE 7u7 Update Resolves Recent Security Issue
Oracle has released a security patch for the recently discussed Java 7 vulnerability that had potential to run malicious code on a targeted computer. If you had previously installed Java SE 7 in OS X Mountain Lion or Lion you can download the new SE 7u7 update directly from Oracle:
If you had a potentially vulnerable version of Java and you disabled the runtime, install the update and you will be safe to re-enable Java either system wide or in your browser of choice. For users that never installed Java or who want to leave it disabled, you don’t need to worry about any of this.
Heads up to MacRumors for noticing this first