I can definitely answer the first part of this. Java is automatically installed when you execute the bin file.
But I have found the same problem where installing this Java update didn't resolve my problems with Azureus...even after following a number of guides about it.
I anm running FC5 Test 2 and Azureus went wrong this morning when I did a rather rash upgrade top the whole system.
Check out http://stanton-finley.net/fedora_cor...ion_notes.html
as that hgives you a guide to installing the Sun Java environment