I haven't used WebObjects for years, but I'm curious how this whole Java kerfuffle is going to affect that. Do people still use it?
The existing version of Java 6 will still run (and Apple has said it will have support for the normal cycle, whatever that means).
Potentially other versions could appear.
WebObjects use of java is primarily server side, and as such has less (possibly little) GUI usage.
It may even be possible to run WebObjects on other platforms. That becomes an interesting situation if the license stipulates Apple hardware, but Apple no longer provides the proper runtime environment to use it.
It means deprecated for one rev and dropped the next. Just like they handled PowerPC supported in 10.4 deprecated in 10.5 gone in 10.6. So Java will be gone in 10.8.
Apple's implementation of the JVM may be gone in 10.8. That's not the same thing as saying there will be no JVM (and conversely no java of any kind). I suspect someone will step up to the plate, either openJDK or Sun/Oracle.