Well, still no answer from the Apple Forum...
I did go there quite a few times and always got suggestions/answers relatively quickly. This is the first time no one has anything to say. Not even "It can't be done"...

From the links you suggested, this one says that Java1.4.2 can't be removed:

Mac OS X Panther initially shipped with installations of J2SE 1.3.1 and 1.4.1. Java 1.4.2 Update 2 is now available for Mac OS X Panther v10.3.4 and later, based on the J2SE 1.4.2_05 SDK. It includes improved behavior for applets in Safari, and increased stability for desktop Java applications, including all of the improvements in 1.4.2 Update 1. Please note that 1.4.2 Update 2 completely replaces the current Java 1.4 implementation on Panther systems (1.4.1 or 1.4.2), and is not removable once installed.

The other post talks about trying to fool the system "receipts" and re-installing. Well I've got three choices.

1- Delete Java completely (empty trash) and try again to re-install (got it on a back up anyway)
2- Archive & Install and re-install LW
3- Go without LW until the next version (I have a feeling it won't work since the previous versions didn't)

So I'll wait a bit in case something else comes up and if it doesn't, well, I'll have to go with re-installing OSX...
Will post back with any results
See you all and thanks !!!