Apple and Oracle announce OpenJDK project for Mac OS X. This is one of the better results after Java was deprecated on OS X. So OpenJDK takes the reins for Java on OS X and future releases will come from Oracle. It is good to read that Apple is contributing actively to the Java SE 7 implementation. Henrik Ståhl confirms commitment from Oracle. James Gosling is a bit skeptical about how well the two platforms would gel together.
In my opinion, success of this is not dependent on the technologies as much as collaboration between Apple and Oracle. Apple does not have a very tolerant policy towards third party development platforms on OS X. Will Java applications be allowed in the new Mac App Store? Oracle might not respond to OS X specific requests in future. If something is to go wrong it will be in the policies, not in the code.
The good thing is that even if this does not work out OpenJDK will be out there, so the community will still have a chance.