The public SwingSet3 demo staged on java.net does not load on Mac OS X

*** Tested Configuration:
- x64 Mac OS X 10.7.5
- 64-bit jre 7u15, 7u17

*** Steps to reproduce:
0) Uninstall Oracle JREs from the test system
1) Install 64-bit JRE 7.u15 from java.com
2) Launch the SwingSet3 demo as
javaws http://download.java.net/javadesktop/swingset3/SwingSet3.jnlp
3) Click 'Run' button from the sandbox security dialog
4) The SwingSet3 demo should be downloaded
5) Expect to see the desktop integration warning dialog
6) Either click 'OK' or 'Skip' button

If the app fails to load with java.lang.ExceptionInInitializerError: null
the issue is reproducible.
The same application can be run on Windows using the same jre build