http://www.macnn.com/articles/12/06/14/patch.caused.serious.boot.issues/
Apple pulls problematic Thunderbolt Software Update 1.2
updated 09:52 am EDT, Thu June 14, 2012
Patch caused serious boot issues
Apple has pulled Thunderbolt Software Update 1.2 from its list of available downloads, MacNN has discovered. Although the update was only meant to add support for the Thunderbolt-to-Gigabit Ethernet adapter, some users have complained that it caused serious boot issues such as kernel panics or freezing at the gray boot screen. The only solution appears to have been reinstalling OS X Lion, a time-consuming process.
It's a rare occurrence for Apple to pull an update outright. The company is more likely to offer up a quick reissue, or a later follow-up with a new version number. The Thunderbolt patch's withdrawal may suggest that the problem was too fundamental to fix in a hurry, and/or affecting a number of people.
Junior Member
Joined: Jan 2007
The only solution is not
the only solution.
The much quicker solution is to install the 10.7.4 combo update. Less than half an hour with a modern network connection. Don't forget to install all available updates after returning to a bootable state. The remaining updates appear to be fine.