CAUSE: Latest version of Java installed and forms version is not compatible with currently installed JAVA
SOLUTION:
1. Check the version of java installed in your system
2. If you already have latest version of JAVA, Please go and uninstall(via Control Panel > Add/Remove Software)
3. Download the latest version of 1.6 (like 1.6.0_25 to 1.6.0_29) and install.
4. Then try open the application again with same browser.
OR you can perform below steps:
Click on startà –> Control Panel
Click on programs
Click on Java
Click on Java Tab as seen below
Click on View
After clicking on View we see Runtime Parameters
We need to set -Djava.vendor=”Sun Microsystems Inc.” under Runtime Parameters
Click ok and click Apply.
Give a try if it resolves the problem !!
Thank You !!
ORACLE DBA BLOG 
Comments
Thank you very much for this tutorial! It indeed fixed the problem of “FRM-92095: Oracle Jnitiator version too low – please install version 1.1.8.2 or higher”
Of course, all browsers should be entirely closed (including all popup windows) and restarted in order for this change to take effect.
Kind regards,
Gerd
Thank You !!
Wonderful, this has resolved my issue , thanks a lot.
Thank You !!
THANKS!!!!! This is the only thing that works after hundred I’ve tried! You saved my work! Great!!!
thankssss alottt .. you are great and please say to oracle that they have to simplify all installation and configuration in future it is very complex in installation and in configuration.well thanks alot for this
i tried to many times but not resolved pls help me
Thanks my Problem solved