Since I did not receive any response about my update I kept looking. I found this article: Redhat Report Server Defect | CA Communities Where it explains that "The SAP CrystalReports depends on a third party component on Unix. The third party component doesn’t work with the new X11 patch on RedHat. We need to downgrade the X11 as a workaround, since third party component patch is not available."
So, following the directions that article I did the following command:
yum downgrade libX11.i686 libX11.x86_64 libX11-common.noarch libX11-devel.i686 libX11-devel.x86_64 libXt libXres libXvMC libXext libXinerama libdmx libXinerama libXrender libXcursor libXrandr mesa-libGL libXtst libXi libXi libXxf86dga libXxf86vm libXv tigervnc-server libXrandr-devel libXcursor-devel libXfixes libXext-devel mesa-libGL-devel libXi-devel libXrender-devel libXxf86vm-devel libXv-devel libXinerama-devel libXfixes libXtst-devel libXfixes-devel libXt-devel mesa-dri-drivers mesa-private-llvm
After that pre-requisites all installed with no error. 
However the the prerequisite check still fails with the following error:
Failed:Operating system patch level (Critical)
Information:
Missing patch: libXext-devel-1.1-3.el6.i686
Missing patch: libXext-devel-1.1-3.el6.x86_64
If I try to install either of these, it will upgrade libX11 back to 1.6 again: Please advise on best course of action.
root@ip-10-0-2-15 ~]# yum install libXext-devel-1.1-3.el6.x86_64
Loaded plugins: amazon-id, downloadonly, rhui-lb, security
Setting up Install Process
Resolving Dependencies
--> Running transaction check
---> Package libXext-devel.x86_64 0:1.1-3.el6 will be installed
--> Processing Dependency: xorg-x11-proto-devel >= 7.0-1 for package: libXext-devel-1.1-3.el6.x86_64
--> Processing Dependency: pkgconfig(xextproto) for package: libXext-devel-1.1-3.el6.x86_64
--> Processing Dependency: pkgconfig(x11) for package: libXext-devel-1.1-3.el6.x86_64
--> Processing Dependency: libX11-devel for package: libXext-devel-1.1-3.el6.x86_64
--> Running transaction check
---> Package libX11-devel.x86_64 0:1.6.0-2.2.el6 will be installed
--> Processing Dependency: libX11 = 1.6.0-2.2.el6 for package: libX11-devel-1.6.0-2.2.el6.x86_64
--> Processing Dependency: pkgconfig(xcb) >= 1.1.92 for package: libX11-devel-1.6.0-2.2.el6.x86_64
--> Processing Dependency: pkgconfig(xcb) for package: libX11-devel-1.6.0-2.2.el6.x86_64
---> Package xorg-x11-proto-devel.noarch 0:7.7-9.el6 will be installed
--> Running transaction check
---> Package libX11.i686 0:1.3-2.el6 will be updated
---> Package libX11.x86_64 0:1.3-2.el6 will be updated
---> Package libX11.i686 0:1.6.0-2.2.el6 will be an update
--> Processing Dependency: libX11-common = 1.6.0-2.2.el6 for package: libX11-1.6.0-2.2.el6.i686
---> Package libX11.x86_64 0:1.6.0-2.2.el6 will be an update
---> Package libxcb-devel.x86_64 0:1.9.1-2.el6 will be installed
--> Processing Dependency: pkgconfig(xau) >= 0.99.2 for package: libxcb-devel-1.9.1-2.el6.x86_64
--> Running transaction check
---> Package libX11-common.noarch 0:1.3-2.el6 will be updated
---> Package libX11-common.noarch 0:1.6.0-2.2.el6 will be an update
---> Package libXau-devel.x86_64 0:1.0.6-4.el6 will be installed
--> Finished Dependency Resolution
Dependencies Resolved
========================================================================================================================
Package Arch Version Repository Size
========================================================================================================================
Installing:
libXext-devel x86_64 1.1-3.el6 rhui-REGION-rhel-server-releases 78 k
Installing for dependencies:
libX11-devel x86_64 1.6.0-2.2.el6 rhui-REGION-rhel-server-releases 982 k
libXau-devel x86_64 1.0.6-4.el6 rhui-REGION-rhel-server-releases 14 k
libxcb-devel x86_64 1.9.1-2.el6 rhui-REGION-rhel-server-releases 1.0 M
xorg-x11-proto-devel noarch 7.7-9.el6 rhui-REGION-rhel-server-releases 286 k
Updating for dependencies:
libX11 i686 1.6.0-2.2.el6 rhui-REGION-rhel-server-releases 591 k
libX11 x86_64 1.6.0-2.2.el6 rhui-REGION-rhel-server-releases 586 k
libX11-common noarch 1.6.0-2.2.el6 rhui-REGION-rhel-server-releases 192 k
Transaction Summary
========================================================================================================================
Install 5 Package(s)
Upgrade 3 Package(s)
Total download size: 3.7 M
Is this ok [y/N]: