Java is available, see
THe new development toy from iRex: java. My impression from the sidelines is that this is a minimal port - just enough to get MobiPocket Reader working. If you have Java experience, this might be the way to go though. Search for java in the iLiad forums for many more details.
I would love to know why MobiPocket Reader can only access one font (out of only two possible). This is presumably a Java issue, although the same Java-based reader on the PepperPad 3 can access all available TTF fonts.