Desc:
 If 7u2 deactivate old releases feature option
  "Insecure JRE versions" is set to "Allow using insecure JRE versions ..."
  applet requesting old insecure JRE version ( installed ) should be executed with this JRE
  without new security warning window "An application would like access to an old version of Java".

  In fact it works OK for javaws apps, but doesn't work for applets, security warning always appears.
  See details and applets links to reproduce in comments.
also see: 7102791
simple fix in canDownload will be included with this fix
see also : 7102635
there is no permanant store to record this decision, however we can keep this info session wide (so you can reload the app, or come to same app on a differant tab).
this fix will be included as part of 7102635, closing 7102635 as a supe of this.