Apple has released Java for OS X Lion 2012-001 and Java for Mac OS X 10.6 Update 7 for, respectively, Mac OS X 10.7.x (“Lion”) and Mac OS X 10.6 (“Snow Leopard”). You can obtain the updates via the Software Updates component of the Mac OS X Systems Preferences app.
The updates patch vulnerabilities in Java 1.6.0_29. The bug fixes are cumulative — that is, bug fixes in previous update versions are included in subsequent update versions.