[11:39:20] [INFO] in Launcher JavaFinder.parseWinJavaVersion:118: Java Version: 1.7.0_51 sorted as: 1.7.0_51 32 Bit Java at : C:\Program Files (x86)\Java\jre7\bin\java.exe
[11:39:20] [INFO] in Launcher JavaFinder.parseWinJavaVersion:118: Java Version: 1.7.0_25 sorted as: 1.7.0_25 64 Bit Java at : C:\Program Files\Java\jre7\bin\java.exe
[11:39:20] [INFO] in Launcher JavaFinder.parseWinJavaVersion:118: Java Version: 1.7.0_25 sorted as: 1.7.0_25 64 Bit Java at : C:\Windows\system32\java.exe
[11:39:20] [INFO] in Launcher JavaFinder.parseWinJavaVersion:118: Java Version: 1.7.0_51 sorted as: 1.7.0_51 32 Bit Java at : C:\Windows\SysWOW64\java.exe
[11:39:20] [INFO] in Launcher JavaFinder.parseWinJavaVersion:140: Preferred: Java Version: 1.7.0_25 sorted as: 1.7.0_25 64 Bit Java at : C:\Program Files\Java\jre7\bin\java.exe
It looks like when you updated Java, you installed the latest 32-bit version, so Minecraft is preferring to use the older version as it is 64-bit.
Uninstall all versions of Java on your computer, then restart. Now download and install Java 1.7.0_51
x64 from here:
http://www.oracle.com/technetwork/java/javase/downloads/jre7-downloads-1880261.html
If you continue to experience problems, try removing Optifine as it has been known to cause issues with many people's games in 1.6.4.
If even after doing both of these, you're still experiencing crashing, please post a fresh console log to pastebin.com.