Updates are typically multi-OS. Example:
<http://www.oracle.com/technetwork/topics/security/javacpujune2011-313339.html#PatchTable/>
Scroll down to the 'Appendix - Oracle Java SE' and read:
<quote>
CVSS scores below assume that a user running a Java applet or Java Web
Start application has administrator privileges (typical on Windows).
Where the user does not run with administrator privileges (typical on
Solaris and Linux), the corresponding CVSS impact scores for
Confidentiality, Integrity, and Availability are "Partial" instead of
"Complete", and the corresponding CVSS Base score is 7.5 instead of 10
respectively.
</quote>
Ditto for the October 2011 updates:
<http://www.oracle.com/technetwork/topics/security/javacpuoct2011-443431.html>
And:
http://java.com/en/download/faq/remove_olderversions.xml
<quote>
Should I remove older versions of Java?
We highly recommend users remove all older versions of Java from your
system.
Keeping old and unsupported versions of Java on your system presents a
serious security risk.
Removing older versions of Java from your system ensures that Java
applications will run with the most up-to-date security and performance
improvements on your system.
</quote>
Regarding performance issues, from the same web page:
<quote>
Do I need older versions of Java?
The latest available version is always compatible with the older
versions. However, some Java applications (or applets) can indicate that
they are dependent on a particular version, and may not run if you do
not have that version installed. If an application or web page you
access requires an older version of Java, you should report this to the
provider/developer and request that they update the application to be
compatible with all Java versions.
</quote>
So... run older versions at *your* own risk. Just please do not advise
others to do the same without sufficent warnings.