beunited reports on their Java porting project. They have fixed a "serious flaw" and finally have a working version of J2SE. Here's the full monty:
After a wild weekend of coding and BeShare chat sessions the Java Team has some progress to report. The team has been able to create a working version of the J2SE 1.4.0 JVM that runs under BeOS R5 and actually interprets Java byte code. This is still early in the development, but for the first time the JVM has interpreted the java.lang.String class and others. This is after the team spent 2 months trying to debug a serious flaw in the native code generation of the hotspot engine. Progress should be rapid after this point as most of the hard work is now complete. The next step is to have the JVM complete its initialization and run 'hello world'.

Good news indeed! Way to go guys, keep it up!