Webcenter Content: Java update_51 Applet Security warning : Your security setting have blocked an untrusted application from running

I have updated my java to jdk 1.7.0 update 51, while accessing the java applets I am getting the following error:

 Your security setting have blocked an untrusted application from running

Solution

1. Go to control panel, click on Java.
   
2. Click on Security tab.
   
3. set the security level medium.
4. Click on Edit Site List... and add the url i.e http://10.88.12.242
5. Click Apply and Ok to save changes made to the java control panel.