This arstechnica article provides a Terminal command test. According to that test, Mountain Lion is also vulnerable.
http://arstechnica.com/security/201...big-security-hole-on-anything-with-nix-in-it/
Ok, now what? What do we do, short of waiting for Apple to fix it?
OSX isn't very vulnerable to this issue by default. It doesn't use bash for many things that linux does use bash for. For instance, the dhcp client on linux will typically fire off a couple of (bash, often) shell scripts with the dhcp-supplied data. OSX doesn't do that.
So unless you did something weird like create a bash-based cgi script to be run by apache (also included), or using interesting ssh constructions, you're likely not going to have any problems.
That said: apple's next security update will likely include a patched version of bash.