The newly discovered zero-day flaw in Java 7 is so serious that the U.S. Department of Homeland Security has warned users to disable or uninstall it, and Apple has disabled the Java 7 plugin on Macs through its OS X anti-malware system, in order to protect users from a potentially serious security issue.
You should disable Java (if not already done) until either the US Department of Homeland Security, or Oracle, declare it safe and Apple restore the facility. Javascript should not be disabled (it has nothing to do with Java).
However, if you need the Jave 6 JRE and plug-in, MadMAC0 has posted at
https://discussions.apple.com/thread/4449038?answerId=20107182022#20107182022&ac_cid=tw123456#20107182
Apple has also posted (Oct 22/12) the approved solution for restoring the Java 6 plug-in:
Java for OS X 2012-006: How to re-enable the Apple-provided Java SE 6 applet plug-in and Web Start functionality.