When you try to run EAP6/AS7 server with Java JRE (not JDK) as the java runtime, it will fail because the startup command includes "-server" which is not supported by JRE. If you use Java JDK instead, it works fine.
See JBIDE-12227 for more details about the errors displayed.
It would be good if the error made it obvious what the problem actually is.
Environment:
jbdevstudio-product-eap-universal-5.0.0.v20120615-1714-H213-GA.jar
Windows XP