Microsoft has fixed the OpenType font issue related to their update released on December 11th.

From the Microsoft website:

"The original version of security update 2753842 had an issue related to OpenType Font (OTF) rendering in applications such as PowerPoint on affected versions of Windows. This issue was resolved in the version of this security update that was rereleased on December 20, 2012"
(More about the original issue here.)

Looks like it is safe to install all updates for Windows now.