This Trojan is installed via exploitation of a flaw in Oracle Java (CVE-2012-0507). The Mac OS X - based malware masquerades as an Adobe Flash Player install.
Upon infection the malware will install fake/rogue security software, and allow for the downloading of additional malicious components, sensitive data extrusion, and other malicious control methods.
Infected hosts report back to an external server and can receive further instructions/payloads via that method (C&C / bot-based control). CVE-2012-0507 is an Oracle Java vulnerability, which was patched by Apple (as a 34rd party component) in April 2012.
Therefore....make sure your OSX software is up to date