It's curious, when I start Mac OS X in "Safe Mode" I can use almost all applications. I have read that this update did something with Core Audio. I think in safe mode Mac OS X starts without giving access to audio and other hardware related stuff. It may be that herein lies the solution for our problems. Although - I have no idea what I could actually do about it.
It seems that to start into "Safe Mode" (Holding Shift during the restart) had somehow magically resolved the issue. After working in safe mode which worked fairly good (see old post) I did a restart into normal mode. There some applications worked, others still not, like iPhoto. But after another restart now every application seem to work just fine.
I did delete in /Library/LauchnedDaemon/ the cleanapp daemon, though I suspect that this is not related to our problem.
I am having the same problems as forgiss. I have installed the security patch on 2 iMacs - on one its fine and the other been a disaster. Apps freezing, dock hanging, cant print and more. Its rendered the machine useless. I need to urgently fix this? Any suggestions