Update Java. Seriously, do it right now.

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Another Java privilege escalation exploit spotted in the wild. Trojans and web based java classes are already installing remote access tunnels into Macs across the globe. Apple finally updated their java binaries and you should too! Protect yourself! Just run Software Update from the Apple menu.

Apple Info:
http://support.apple.com/kb/HT5228

More info (including a AppleScript test for infection):
http://mashable.com/2012/04/05/mac-flashback-trojan-check/