Oracle Forms 11G R2 now has Java 1.7 Support !
Oracle Forms 188.8.131.52 Patch 1 Released it can be downloaded here: Oracle Forms and Reports 11g Release 2 - Contains Oracle Forms and Reports 11gR2 (184.108.40.206.0)
This release can be applied as a patch on top of 220.127.116.11 or as a full installation. Be sure to also review the product Certification Guide for the latest updates on certified configurations
If you want to see full certification information for all platforms and java client versions you can check these out.