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More information available at Security Bulletin 2006-06-29.
They use CVEs to identify three separate issues.
* Java Applet sandbox restriction bypass issue is openoffice.org/security/CVE-2006-2199.html.
Disabling support for Java Applets is a workaround provided.
* Issue related to BASIC macros is openoffice.org/security/CVE-2006-2198.html, in turn.
It is worth of mentioning that both 1.1.x and 2.0.x releases are affected. Fixes for version 1.1.5 are not available yet, however. But they will be released soon.
Update: Sun StarOffice and StarSuite are affected to these issues too.
Details available at Sun security advisories.