Java Development Tools

I know that you can make external tools available from JDeveloper by adding them with the external tools wizard. If the external tool is written in java, you can set that up as an execution of java.exe with the proper classpath and other command line options.

Considering that JDeveloper is itself written in jave and running in a JVM, is there a way to configure an external tool to just run under the current instance of the JVM?

To be more specific, I would like to set up Axis in JDeveloper, and would like to use the WSDL2Java tool to generate java files in the current project. Maybe this would be better done as a JDeveloper extension, but I am too inexperienced as a java programmer to want to try to upe the Extension SDK.