I have a similar issue here. I have QTP 11 and I am using oracle EBS. Recently we have to install JRE 1.7. The EBS application is no longer working. I submitted a support SR but did not get any resolution. not sure what to do with this issue.
I have QTP 11 and jdk 1.7 build 55 (32 bit) working on Win7 32-bit OS but am having trouble qetting the same to work on a Win7 64-bit OS. I've installed pathes QTP_00699 and QTP_00709 but no luck. My Oracle EBS application is being recognized as SunAWTFrame objects. Web pages are recognized correctly.