Thank you Grandpa. You obviously did some research to find this. I attempted to workarounds but I was still not successful. The JRE is installed correctly and i was able to test it fine. I also have the latest version of JRE. I must assume that the applet or application may contain programming errors or bugs that caused the JVM to crash.
Sun states that there could be many reasons for the JVM crash. They are currently investigating the exact root cause of this problem.
Guess I will need to wait until they find the "exact root cause". Again, thank you very much for your time and effort. If anyone else is experiencing this issue and found a fix or workaround let me know
Jim