On my mac, I have two versions of Java installed (Java 1.6 from Apple and Java 1.7 from Oracle). I have Java 1.6 installed because some legacy software requires it and mods such as FTB and Tekkit require me to use it and launch them with
cd /Users/Alex/Minecraft/FTB
export JAVA_HOME=/System/Library/Java/JavaVirtualMachines/1.6.0.jdk/Contents/Home
java -jar FTB_Launcher.jar

However, the minecraft 1.6 launcher seems to be choosing the wrong version. In the snooper settings, the Java version is 1.6. The launcher tells the same story. Minecraft should not be choosing this old, no longer updated, and relatively insecure Java version.

Edit:
In the new launcher, by going into the profile editor, and editing the profile so that the executable box is checked, it is possible to use the latest version. The text box needs to say /Library/Internet Plug-Ins/JavaAppletPlugin.plugin/Contents/Home/bin/java , but the critical problem here is that minecraft fails to choose the more modern, secure version. However to fully integrate Java 1.7 however, something would need to be changed because it reduced FPS by about 40 on average.