Thomas has created a set up here- http://10.16.50.165:8880/TestApp/jartest.jnlp

Here is how to create a local set up:
1. Download TestApp.tar from the attachments and deploy it onto local tomcat installation (webapps\ROOT)
2. The built sigtestjars is available here - /net/redback.germany.sun.com/data/3-3099633838/TestApp/deploy.tar
Unpack the tar ball and copy the contents to TestApp directory that has been deployed.
3. Change the codebase and argument parameter in jartest.jnlp to
   <jnlp codebase="http://localhost:8080/TestApp">
    ..........
    http://localhost:8080/TestApp/loadlist.txt
 
After this, if the application is launched, the following error may show up:
  com.sun.deploy.net.FailedDownloadException: Unable to load resource:
  (http://localhost:8080/TestApp/sigtestjars/TestApp.jar, 2.9-10)

  java.io.IOException: missing version response from server

Remove the version tag on the jar files to resolve this.
Also attaching the complete deployable zip file, with above described modifications to the jartest.jnlp file - refer TestApp_ready.zip in attachments
Reassigning to Vladislav as Ragini has moved to Dev.