Where did jvisualvm go?
Seems like a mixup of links; the /usr/bin/jvisualvm symlink points to something that does not exist (as people pointed out above). Apparently the jvisualvm executable (stub) exists and the way to fix this for now is to execute:
cd /System/Library/Java/JavaVirtualMachines/1.6.0.jdk/Contents/Home/bin
sudo ln -s /System/Library/Java/Support/VisualVM.bundle/Contents/Home/bin/jvisualvm .
This requires sudo privileges and creates the missing symlink, pointing to the VisualVM bundle. No idea why it happened but upgrading to latest XCode 4.5.2 did not fix this for me automatically. I am running MacOS X 10.7.5 and java 1.6.0_37
It seems the supporting bundle got removed upon update. https://discussions.apple.com/thread/4474992?start=0&tstart=0
Download the bundle to use as a workaround. http://visualvm.java.net/download.html
EDIT:
Use this download link: https://java.net/projects/visualvm/downloads/download/release132/VisualVM_132.dmg
I downloaded the visualvm (.dmg from java.net) and that works for me on my Mountain Lion.