Oracle has released a patch, but Genuitec along with other experts believe this is only a temporary solution. Here's the patch (Java SE Runtime Environment 7u11).
Now, let's take a step back and look at what is really going on since there is a lot of confusion right now. Java installed on the end-user operating system is fine - it is only the Java plug-in itself. Java in the data center is fine too, not to mention heavily used. Our Secure Delivery Center allows automatic software delivery with fallback to non-Java plugin based usage if plugin is disabled -- it already plays nice and keeps working.