Right-click on it and select hide update. You may have to click the more... link to be able to hid it. If it is suggesting an update, you have Java 6 installed.
Apple still updates Java 6, which is the last one they built for OS X. Oracle isn't doing Java 6 for Mac.
Java 7 is update 15, at least for now.
How do I remove the Java 1.6.0_41 update from App Store updates list without actually installing it? I don't want to revert to an older Java than what I got from Oracle just a week ago (Java "1.7.0_11").
You should not ignore it as that will leave you with an unsafe version of Java SE 6 integrated into your system. If you shoud ever need to revert from Java 7 to Java 6 (which many users have found necessary for compatibility reasons) that would leave you open to attack. It's very difficult to remove Java 6 so you might as well keep it up-to-date.
I thought Apple was no longer doing its own Java version anymore and that maintenance for Java for Mac was now in Oracle's hands. What gives?
The agreement was that Apple would continue to update Java 6 and Oracle would take over at Java 7. Both can exist on your computer, though in general, only one will be active at any given time. Oracle's public support for Java 6 ends this month and without it Apple will be hard pressed to continue after that date, but we'll all just have to wait and see how that goes.
Thanks for the advice about keeping Java 1.6 up to date even if I'm on 1.7. Your point makes sense; but I'm worried about inadvertantly overwriting 1.7 components and ending up with an incompatible mix of 1.7 and 1.6. As it stands some of my old Java programs don't work with 1.7; but I'm just a hobbiest programmer so I can live with it.
Thanks for your thoughtful input and helpful advice.
Thanks for the advice about keeping Java 1.6 up to date even if I'm on 1.7. Your point makes sense; but I'm worried about inadvertantly overwriting 1.7 components
No, that cannot happen as each is stored in a completely different location.
The only thing that might get changed would be the symlink in /Library/Internet Plug-ins and if necessary that can be switched back by following the steps under "Additional Instructions" in Java for OS X 2013-001: How to re-enable the Apple-provided Java SE 6 applet plug-in and Web Start functionality.