FULL PRODUCT VERSION :
java version "1.7.0_55"
Java(TM) SE Runtime Environment (build 1.7.0_55-b13)
Java HotSpot(TM) 64-Bit Server VM (build 24.55-b03, mixed mode)

ADDITIONAL OS VERSION INFORMATION :
Linux gpk-nmtg-cpo12 2.6.18-238.9.1.el5 #1 SMP Fri Mar 18 12:42:39 EDT 2011 x86_64 x86_64 x86_64 GNU/Linux

EXTRA RELEVANT SYSTEM CONFIGURATION :
A client-server system where the client is a Java webstart application running on multiple OS (Linux, Solaris, Windows) and the server is a Java process.
The communication between client and server occurs using Jacorb CORBA implementation.

A DESCRIPTION OF THE PROBLEM :
The Java webstart client is unable to complete the instantiation of the CORBA ORB.
The thrown exception is 
org.omg.CORBA.INITIALIZE: can't instantiate default ORB implementation org.jacorb.orb.ORBSingleton  vmcid: 0x0  minor code: 0  completed: No
    at org.omg.CORBA.ORB.create_impl_with_systemclassloader(Unknown Source)
    at org.omg.CORBA.ORB.init(Unknown Source)
    at org.jacorb.orb.CDRInputStream.<init>(CDRInputStream.java:186)
    at org.jacorb.orb.etf.ProfileBase.initFromProfileData(ProfileBase.java:252)
    at org.jacorb.orb.etf.ProfileBase.demarshal(ProfileBase.java:172)
    at org.jacorb.orb.etf.FactoriesBase.demarshal_profile(FactoriesBase.java:124)
    at org.jacorb.orb.ParsedIOR.decode(ParsedIOR.java:235)
    at org.jacorb.orb.ParsedIOR.parse_stringified_ior(ParsedIOR.java:460)
    at org.jacorb.orb.ParsedIOR.parse(ParsedIOR.java:375)
    at org.jacorb.orb.ParsedIOR.<init>(ParsedIOR.java:192)
    at org.jacorb.orb.ORB.string_to_object(ORB.java:1824)

Caused by: java.lang.ClassNotFoundException: org.jacorb.orb.ORBSingleton
    at java.net.URLClassLoader$1.run(Unknown Source)
    at java.net.URLClassLoader$1.run(Unknown Source)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.net.URLClassLoader.findClass(Unknown Source)
    at java.lang.ClassLoader.loadClass(Unknown Source)
    at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
    at java.lang.ClassLoader.loadClass(Unknown Source)
    at java.lang.Class.forName0(Native Method)
    at java.lang.Class.forName(Unknown Source)
    ... 56 more

This is due to the change in the org.omg.CORBA.ORB.init() method where the System ClassLoader is used. This is a new code of the 7u55.

REGRESSION.  Last worked in version 7u51

ADDITIONAL REGRESSION INFORMATION: 
java version "1.7.0_55"
Java(TM) SE Runtime Environment (build 1.7.0_55-b13)
Java HotSpot(TM) 64-Bit Server VM (build 24.55-b03, mixed mode)

STEPS TO FOLLOW TO REPRODUCE THE PROBLEM :
Create a webstart application and instantiate a CORBA ORB (like Jacorb).

EXPECTED VERSUS ACTUAL BEHAVIOR :
EXPECTED -
The ORB should be successfully created.
ACTUAL -
org.omg.CORBA.INITIALIZE: can't instantiate default ORB implementation org.jacorb.orb.ORBSingleton  vmcid: 0x0  minor code: 0  completed: No
    at org.omg.CORBA.ORB.create_impl_with_systemclassloader(Unknown Source)
    at org.omg.CORBA.ORB.init(Unknown Source)
    at org.jacorb.orb.CDRInputStream.<init>(CDRInputStream.java:186)
    at org.jacorb.orb.etf.ProfileBase.initFromProfileData(ProfileBase.java:252)
    at org.jacorb.orb.etf.ProfileBase.demarshal(ProfileBase.java:172)
    at org.jacorb.orb.etf.FactoriesBase.demarshal_profile(FactoriesBase.java:124)
    at org.jacorb.orb.ParsedIOR.decode(ParsedIOR.java:235)
    at org.jacorb.orb.ParsedIOR.parse_stringified_ior(ParsedIOR.java:460)
    at org.jacorb.orb.ParsedIOR.parse(ParsedIOR.java:375)
    at org.jacorb.orb.ParsedIOR.<init>(ParsedIOR.java:192)
    at org.jacorb.orb.ORB.string_to_object(ORB.java:1824)

Caused by: java.lang.ClassNotFoundException: org.jacorb.orb.ORBSingleton
    at java.net.URLClassLoader$1.run(Unknown Source)
    at java.net.URLClassLoader$1.run(Unknown Source)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.net.URLClassLoader.findClass(Unknown Source)
    at java.lang.ClassLoader.loadClass(Unknown Source)
    at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
    at java.lang.ClassLoader.loadClass(Unknown Source)
    at java.lang.Class.forName0(Native Method)
    at java.lang.Class.forName(Unknown Source)
    ... 56 more

ERROR MESSAGES/STACK TRACES THAT OCCUR :
org.omg.CORBA.INITIALIZE: can't instantiate default ORB implementation org.jacorb.orb.ORBSingleton  vmcid: 0x0  minor code: 0  completed: No
    at org.omg.CORBA.ORB.create_impl_with_systemclassloader(Unknown Source)
    at org.omg.CORBA.ORB.init(Unknown Source)
    at org.jacorb.orb.CDRInputStream.<init>(CDRInputStream.java:186)
    at org.jacorb.orb.etf.ProfileBase.initFromProfileData(ProfileBase.java:252)
    at org.jacorb.orb.etf.ProfileBase.demarshal(ProfileBase.java:172)
    at org.jacorb.orb.etf.FactoriesBase.demarshal_profile(FactoriesBase.java:124)
    at org.jacorb.orb.ParsedIOR.decode(ParsedIOR.java:235)
    at org.jacorb.orb.ParsedIOR.parse_stringified_ior(ParsedIOR.java:460)
    at org.jacorb.orb.ParsedIOR.parse(ParsedIOR.java:375)
    at org.jacorb.orb.ParsedIOR.<init>(ParsedIOR.java:192)
    at org.jacorb.orb.ORB.string_to_object(ORB.java:1824)

Caused by: java.lang.ClassNotFoundException: org.jacorb.orb.ORBSingleton
    at java.net.URLClassLoader$1.run(Unknown Source)
    at java.net.URLClassLoader$1.run(Unknown Source)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.net.URLClassLoader.findClass(Unknown Source)
    at java.lang.ClassLoader.loadClass(Unknown Source)
    at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
    at java.lang.ClassLoader.loadClass(Unknown Source)
    at java.lang.Class.forName0(Native Method)
    at java.lang.Class.forName(Unknown Source)
    ... 56 more

REPRODUCIBILITY :
This bug can be reproduced always.

SUPPORT :
YES