According to Microsoft, “A remote code execution vulnerability exists in the way that the scripting engine handles objects in memory in Internet Explorer. The vulnerability could corrupt memory in such a way that an attacker could execute arbitrary code in the context of the current user. An attacker who successfully exploited the vulnerability could gain the same user rights as the current user. If the current user is logged on with administrative user rights, an attacker who successfully exploited the vulnerability could take control of an affected system. An attacker could then install programs; view, change, or delete data; or create new accounts with full user rights.”
Microsoft also details how this exploit could be exploited through a website, where hackers might attempt to trick users into visiting that website by sending them an email, so if you have received such an email from a suspicious source and in the event your spam blockers have not caught it, you might just want to delete it right away, although updating to the latest security patch will probably go a much longer way at protecting your computer in the event you accidentally click such links.