Updated to add: For those of you that applied the work-around that we suggested, the vgx.dll file will need to be re-registered before applying the Microsoft Update. Otherwise, the update might not find anything to fix.
Use the command below from Start, Run: regsvr32 "%CommonProgramFiles%\Microsoft Shared\VGX\vgx.dll"
This holds true for any of the work-arounds suggested by Microsoft as well. If you do not yet see the Security Bulletins or the Update on your language version of Microsoft Update - it will be there soon. Microsoft is currently replicating the patch across their network.