Microsoft issues Internet Explorer zero-day warning
microsoft.com
microsoft.com
http://www.exploit-db.com/exploits/15746/
Don't let family and friends surf with IE!
If Microsoft issued a warning about a vulnerability they didn't know was already being exploited, it's not a zero-day exploit.
If Mcirosoft was informed of the vulnerability a week ago and it's being exploited today, it's not a zero-day exploit.
If Microsoft issued a warning about a vulnerability they already patched but saw being exploited because the patch isn't widely installed yet, it's not a zero-day exploit.
While the term means something differed when applied to a vulnerability (the Warez definition comes from how many days after software was released before the crack was available), it's similar.