One for the developers now, as Aleksi Uotila confirms, via the Developing on S60 blog, that Nokia will not be insisting that Java applications in the Ovi Store will require to have a Java Verified testing certificate. While it is still recommended, it is not an essential requirement - unlike signing the Java app via Verisign or Thwaite, which is required.
To use Java Verified before submitting the application to Ovi Store is only a recommendation for developers. If developers have other means to ensure the quality on different Nokia handsets then it’s totally acceptable to not to use it. Developers are however required to sign their content using content signing (Verisign or Thawte).
