Rocks! It’s very interesting to work with. Hopefully soon I can post about a first application.
Sony Ericsson’s Project Capuchin technology is a Java™ ME API that defines a bridge between the Java ME and Adobe® Flash Lite™ programming environments.
In other words: You can have a Flash front-end talking to a Java back-end on a mobile phone. Now how cool is that?! 
Link: Project Capuchin Docs and Tools
Tags: ActionScript 2.0, Capuchin, Flash Lite