First, a file named “exploit.html” appears to be the entry point of the attack, which loads “Moh2010.swf”, an encrypted Flash file that it decompress in memory.
According to AlienVault's Jaime Blasco, the payload dropped is Poison Ivy, as was the case with the previous Java zero-day. Poison Ivy is a remote administration tool (RAT) that was used the Nitro attacks that targeted chemical and defense companies. Interestingly, after exploitation, the attack loads “Protect.html”, a file that checks to see if the Web site is listed in the Flash Storage settings, and if it is, the Web browser will no longer be exploited despite additional visits to the malicious site.
Adding features does not necessarily increase functionality -- it just makes the manuals thicker.