This port is merely a proof-of-concept that running J2ME applications and midlets on Android is possible. The builds are far from complete and deploying all the components (phoneME VM + Android frontend wrapper + JNI bindings) on your device is not trivial. Have a look at some of the screenshots. Here are a few of the main issues that had to be resolved.
Haven’t tested it yet, but checkout this: http://davy.preuveneers.be/phoneme/?q=node/28