Yesterday Oracle made available security updates for 54 of their products resolving 154 security issues. The full list of affected products is available here.
The update for Oracle Java resolves a second security vulnerability being used by the malicious hacking group known as Pawn Storm (another further flaw being exploited by them was by fixed by Adobe last week). The first flaw in Java was resolved by Oracle in July. Further details of the second flaw are available in this Trend Micro blog post. A set of suggested practices for using Java on your computer are provided here.
If you use any of the Oracle products listed here, please install the appropriate security updates as soon as possible.
As a routine precaution I would recommend backing up the data on any device for which you are installing updates in order to prevent data loss in the rare event that any update causes unexpected issues.