Fedora 17 uses OpenJDK 1.70, and has rearranged some directories, such as moving the /lib hierarchy to /usr/lib. When I tried to launch Minecraft as previously, I would get the launcher window, but then just a black screen when Minecraft proper launched.
After some reading, I found some suggestions that in prior versions of Fedora, a similar problem was resolved by exporting the system variable $LD_LIBRARY_PATH. After some poking around, I found the current pathname. Using the following, I can successfully launch Minecraft:
export LD_LIBRARY_PATH="/usr/lib/jvm/jre-1.7.0-openjdk.x86_64/lib/amd64" /usr/bin/java -jar minecraft.jar
You would need to specify the actual path of minecraft.jar, of course. You could easily use this in a shell script file, just by adding "#!/bin/bash" as the first line, and making the file executable.