Is there a Java Open source Library for parsing Excel 2007 Files?
Apache POI is the pure java answer to the question. 2007 format support is in beta right now.
OpenXLS may support it already (if GPL is fine for you). The commercial version of the same product (ExtenXLS) does support it.
Although not strictly part of the question, I should point out that any rewrite of access to Excel files will always have some deficiency over the original, so Joel Spolsky's advice is a good alternative, if you need it.
I did an assessment of poi and jexcel some time ago and jexcel was far superior. They both use a lot of memory though in the case that you have very large datafiles. By this I mean, I was not able to figure out how to construct an excel file through a stream, such that I didn't have to load the entire file in memory.
From http://poi.apache.org/apidocs/index.html
DDF - Dreadful Drawing Format This package contains classes for decoding the Microsoft Office Drawing format otherwise known as escher henceforth known in POI as the Dreadful Drawing Format.
HPSF - Horrible Property Set Format
HSSF - Horrible Spreadsheet Format
I love those guys. We will try to use POI to read Excel files, I will look at the JExcel solution too.