It looks XMLEventFactory.newFactory(String factoryId, ClassLoader classLoader) does not work as expected.

As java doc, factoryId should be "Name of the factory to find, same as a property name".
But actually it is treated as "property value". See below test code. I believe the bug is similar with CR 6756677, which treat factoryId as property value for XMLInputFactory.

It happens for latest build of 7u4, 7u6 and 8.

Simple test code:
=========================
package javax.xml.stream;

import javax.xml.stream.* ;

public class Test{
public static void main(String[] args){
    System.setProperty("inputFac", "javax.xml.stream.MyInputFactory") ;
    System.setProperty("outputFac", "javax.xml.stream.MyOutputFactory") ;
    System.setProperty("eventFac", "javax.xml.stream.MyEventFactory") ;
   
    XMLInputFactory xif = XMLInputFactory.newFactory("inputFac", null);
    System.out.println(xif.getClass().getName()) ;


    XMLOutputFactory xof = XMLOutputFactory.newFactory("outputFac", null);
    System.out.println(xof.getClass().getName()) ;

    //work
        XMLEventFactory xef1 = XMLEventFactory.newFactory("javax.xml.stream.MyEventFactory", null);
        System.out.println(xef1.getClass().getName()) ;

    //do not work
        XMLEventFactory xef2 = XMLEventFactory.newFactory("eventFac", null);
        System.out.println(xef2.getClass().getName()) ;

}
}
==============

Output:
=============
javax.xml.stream.MyInputFactory
javax.xml.stream.MyOutputFactory
javax.xml.stream.MyEventFactory
Exception in thread "main" javax.xml.stream.FactoryConfigurationError: Provider eventFac not found
    at javax.xml.stream.XMLEventFactory.newFactory(XMLEventFactory.java:147)
    at javax.xml.stream.Test.main(Test.java:23)
Caused by: java.lang.ClassNotFoundException: eventFac
    at java.net.URLClassLoader$1.run(URLClassLoader.java:359)
    at java.net.URLClassLoader$1.run(URLClassLoader.java:348)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.net.URLClassLoader.findClass(URLClassLoader.java:347)
    at java.lang.ClassLoader.loadClass(ClassLoader.java:423)
    at sun.misc.Launcher$AppClassLoader.loadClass(Launcher.java:308)
    at java.lang.ClassLoader.loadClass(ClassLoader.java:356)
    at javax.xml.stream.FactoryFinder.getProviderClass(FactoryFinder.java:108)
    at javax.xml.stream.FactoryFinder.newInstance(FactoryFinder.java:143)
    at javax.xml.stream.XMLEventFactory.newFactory(XMLEventFactory.java:144)
    ... 1 more
=============