Hopefully, exploited Java vulnerabilities will be a thing of the past. As reported by , Oracle is now giving Mac users the ability to get Java updates at the same time as they are available for Windows and Linux with the of the . According to a by Oracle's Henrik Stahl, "From this point on, every release of Oracle JDK 7 and JavaFX 2.1 (and later) will be available on Mac at the same time as for Linux, Windows and Solaris."
Stahl's blog post mentions, however, that "the Java Plugin and Web Start are not yet available," so not all the holes are fixed. According to Stahl's post, we won't see updates to the Java Plugin and Web Start until, "the next major milestone," JDK 7 Update 6.
You can JDK yourself and install it--the update requires Mac OS X Lion. Once installed, Java updates are automatic.