Advertorials?
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I readed on Search Engine Land that Google is targetting advertorials. I know of 1 advertorial about our company which links to our site. Is this something to worry about or is it only a problem if it is used on a larger scale?
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I would not worry about it unless it is the main reason for your current rankings. If advertorials isn't part of your link building strategy, then having 1 most likely won't boost your rankings by a lot and won't get you penalized by G.
If you are really worried, you can just ask to have the link nofollowed.
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One link? Don't worry about it.
When Google penalizes sites it is almost always for link building done on a large scale. They're looking for linking schemes.
There are many large brand sites that have huge budgets for advertorials and have hundreds or thousands of such links. These are the ones who need to worry about being penalized.