I think this is the case. The users affected already had 7.3.3600.0 installed, so the title of the thread is not exactly correct. It's more of an update to 7.3.3600.0. Personally, I had the ESET icon on the top right of my screen turn yellow and when I opened ESET it said that a restart was needed. After the restart was done all web functionality was broken but I could still resolve DNS and ping my router. Even the Mac Wireless Diagnostics reported connectivity as functioning.
Removing the Web & Email filter you instantly regain internet, so Im assuming whatever update that was prompting the restart broke that filter and with it, web connectivity.