If you are on an older version of Java JRE and are looking to update it to the latest version, there are additional steps to follow in order to have your site use the new version going forward.
On your web server:
1) Right-Click 'Computer' > Properties > Advanced System Settings > Environment Variables > System Variables.
2) Update the entry: JDK_HOME
3) Change the Variable value to the new directory Java was installed to [Eg: C:\Program Files\Java\jdk1.6.0_35]
After making this change, restart Railo:
Railo Helicon Zoo = kill the java.exe process on the web server (you may have to select 'show all users' from this screen)
Railo Tomcat = Open Railo Tomcat Service Control as an admin > stop and start Railo (you can also do this from the Services screen)
Confirm the change on your Intranet:
Navigate back to your Intranet > Admin > Setup > check that your Java Version now reflects the new version.