To answer part of my own question, JSR 134: JavaTM Game Profile did propose to include a Physics Engine along with a kitchen sink of other features.  This JSR was offcially withdrawn in July of 2003.

Perhaps it failed because it was too wide in scope.  Focussing on just the Physics Engine might have a better chance.

Is there a fairly standard Java Physics Engine API?
If not, is anyone interested in proposing a JSR to define one?

It seems to me that this would be a big win for Java game developers and educators.

I completely agree.

With respect to ODE, what we needed was a way of using it from Java.  Jani did a great job on this.

Where I do think value could be added would be to help define a "standard" Java API for utilizing Physics Engines (not just ODE).  The "reference implementation" could be bound to ODE.

The benefit would be the ability to focus on a higher level in an implementation independent manner.  Assuming that multiple physics engines are implemented, the user could choose the "best" for the task without having to change much code.

Perhaps we need to propose a JSR for this?  Java Physics Engine API, JPEA?

A pure Java physics engine is certainly desirable, but we should consider focusing on the interface first.
Jani has got a good start on defining a higher-level Java API for using ODE.  Let's help him flesh out the API and develop tools to help users build higher-level projects on top of the engine...

With proper design and encapsulation, the underlying ODE functionality can be reimplement over time.

Just a thought