Java 7 is out. Java 5 is too obsolete and reached end of life long ago. Poll on the site indicates that most users agree to drop Java 5 support.
Setting this as a blocker to 4.0.0 as it is something that needs to happen.
This could be closed due https://github.com/igniterealtime/Openfire/commit/8e6f0baca44ad1ef294f74a0707a19b4dbc985bcBuild and Runtime-Version of Java is now set to 1.7