The specific flaw exists within how the application parses directBitsRect records within a .pict file. When decompressing data within this structure, the application will allocate space for the target buffer using fields described within the file and then use a different length to decompress the total data from the file. This can lead to code execution under the context of the application.
Patch Availability:
Apple has issued an update to correct this vulnerability. More details can be found at: http://support.apple.com/kb/HT4447