Microsoft is investigating new public reports of a vulnerability in Windows. Microsoft is also aware of the public release of detailed exploit code that could be used to exploit this vulnerability. Based on our investigation, this exploit code could allow an attacker to execute arbitrary code on the user's system by hosting a specially crafted Windows Metafile (WMF) image on a malicious Web site. Microsoft is aware that this vulnerability is being actively exploited.
Microsoft has determined that an attacker using this exploit would have no way to force users to visit a malicious Web site. Instead, an attacker would have to persuade them to visit the Web site, typically by getting them to click a link that takes them to the attacker's Web site. In an e-mail based attack, customers would have to be persuaded to click on a link within a malicious e-mail or open an attachment that exploited the vulnerability. In both the web and email based attacks, the code would execute in the security context of the logged-on user. Users whose accounts are configured to have fewer user rights on the system could be less impacted than users who operate with administrative user rights.
You can read all of this very important Security Advisory here
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