Java 7 Update 45 was recently released and we have identified an issue with using this in conjunction with NetIQ Operations Center 5.0. While Oracle regularly releases updates to Java to address bugs, enhancements and security issues, from time to time, other issues are introduced.
The problem identified is using Java 7 Update 45 with the java client that is distributed via Java Webstart. If you allow java to update manually or automatically, you could get yourself into a situation that you will be unable to use the client.
If you must use the latest version of java, or you have upgraded and are unable to resolve the problem, please contact support. These details have also been shared via the forum under this link: https://forums.netiq.com/announcement.php?f=26&a=14
Disclaimer: As with everything else at NetIQ Cool Solutions, this content is definitely not supported by NetIQ, so Customer Support will not be able to help you if it has any adverse effect on your environment. It just worked for at least one person, and perhaps it will be useful for you too. Be sure to test in a non-production environment.