Java SE (Java Platform, Standard Edition)

I get a security exception error when i try to open an application with Windows XP . I have always been able to open this application with no problem but recently started getting about 12 pop-ups of this error though the application would eventually open. I decided to do a java security update and now I get the error and the application closes immediately. The application was built to run on Java 2 Standard Edition Version 1.6 update 1. The details in the error message are:
java.net.MalformedURLException: unknown protocol: socket
at java.net.URL.<init>(Unknown Source)
at java.net.URL.<init>(Unknown Source)
at java.net.URL.<init>(Unknown Source)
at java.net.URI.toURL(Unknown Source)
at com.sun.deploy.net.proxy.DeployProxySelector.connectFailed(Unknown Source)
at java.net.SocksSocketImpl.connect(Unknown Source)
at java.net.Socket.connect(Unknown Source)
at java.net.Socket.connect(Unknown Source)
at sun.net.NetworkClient.doConnect(Unknown Source)
at sun.net.www.http.HttpClient.openServer(Unknown Source)
at sun.net.www.http.HttpClient.openServer(Unknown Source)
at sun.net.www.http.HttpClient.<init>(Unknown Source)
at sun.net.www.http.HttpClient.New(Unknown Source)
at sun.net.www.protocol.http.HttpURLConnection.getNewHttpClient(Unknown Source)
at sun.net.www.protocol.http.HttpURLConnection.plainConnect(Unknown Source)
at sun.net.www.protocol.http.HttpURLConnection.connect(Unknown Source)
at com.sun.deploy.net.BasicHttpRequest.doRequest(Unknown Source)
at com.sun.deploy.net.BasicHttpRequest.doGetRequestEX(Unknown Source)
at com.sun.deploy.net.DownloadEngine.isUpdateAvailable(Unknown Source)
at com.sun.deploy.net.DownloadEngine.isUpdateAvailable(Unknown Source)
at com.sun.deploy.net.DownloadEngine.getResourceCacheEntry(Unknown Source)
at com.sun.deploy.net.DownloadEngine.getCachedFile(Unknown Source)
at com.sun.javaws.LaunchDownload.downloadExtensionsHelper(Unknown Source)
at com.sun.javaws.LaunchDownload.downloadExtensions(Unknown Source)
at com.sun.javaws.Launcher.prepareLaunchFile(Unknown Source)
at com.sun.javaws.Launcher.prepareAllResources(Unknown Source)
at com.sun.javaws.Launcher.prepareToLaunch(Unknown Source)
at com.sun.javaws.Launcher.prepareToLaunch(Unknown Source)
at com.sun.javaws.Launcher.launch(Unknown Source)
at com.sun.javaws.Main.launchApp(Unknown Source)
at com.sun.javaws.Main.continueInSecureThread(Unknown Source)
at com.sun.javaws.Main$1.run(Unknown Source)
at java.lang.Thread.run(Unknown Source)

Kindly assist, anyone