So, what can you do to protect yourself from this particular exploit? The easiest solution is to just disable Java in your browser. Since it seems to affect all browsers and all operating systems, there’s really not much else you can do.
The good news is that Oracle is already working on a fix. According to @kafeine, Oracle has already assigned a security ticket to the exploit. While that’s nice and all, there’s still no word on how long it’s going to take to patch. Oracle could even wait until its next Patch Tuesday to issue the fix leaving millions of PCs in limbo until then.