If the Public Draft Specification Ballot fails, the Expert
  Group will have 30 days to update the draft in response to
  the concerns raised by the EC and to submit a revised version
  to the PMO. If a revised draft is not received within 30
  days, the original decision by the EC shall stand and the PMO 
  will declare the JSR closed. If a revision is received, the
  PMO shall forward it to the EC and initiate a Public Draft
  Specification Reconsideration Ballot.

Be sure to read the comments on the votes though. Most votes offer an opening for reconsideration, since progress was already made since the version that was submitted for the Public Review Ballot.