My experience might help explain it's need or unneeded status: My ATI dependant Arkview external video processor, a USB item that goes to a big television to use it as a monitor for watching Netflix there in HD, was refusing to work after a recent Java update,
and my computer was requesting JRE and requesting this SSV item install be activated when I tried to configure the video device, and then further requested an older Java be reinstalled. That gave me two Java installations at the same time, but the video worked.
Reading this site, I determined to go to ATI for new drivers.
After installing the latest drivers for the ATI device, I could uninstall the old Java and everything still worked. I couild disable the SSV Java aplet and everything still worked.
Functionality was preserved by the old Java version and the SSV aplet, but was unnecessary. It was better to update my drivers from the ATI source, after which the latest Java update was sufficinent to do what is needed, in a more secure fashion.
Incidentally, an ATI driver update offered by Windows Update had started my troubles, I've since learned to not install driver updates from Windows Update, but rather to use those prompts to tell me instead to go to the manufacturers web site for new driver
downloads.
I use 64bit Windows 7 Professional and IE8, and try to be fully updated all the time.
Many thanks to the trech folks who take the time to answer dummies like myself, for whom troubles like these are so difficult to deal with.