Update: Jan. 12
Jim Finkle of Reuters reports that Oracle will supply a fix to java "shortly".
Update: Jan. 15
Oracle supposedly completed a patch Sunday Jan. 13. I have not yet seem any prompts or instructions to apply the fix myself.
Update: Feb 8
Oracle pushed a replacement Java engine on my main Windows 7 laptop as soon as I booted up after returning home. It took about 5 min. The next hard boot (Feb. 8) took a little longer than usual.