April is definitely not End-of-Life for Java 7 - only the end of "public" updates. Due to the general backwards compatibility that Java is designed for, it is already possible to run Alfresco with Java 8 - Alfresco may only need to put it in their supported platforms document. A switch to Java 8 as the required minimal version will not occur before Alfresco 5.1 as such a change requires a major release.
In April, Java7 will not be officially supported by Oracle, Java8 - by Alfresco, and we`ll discuss what EOL exactly mean for all of us
Of course, mainly I wish to get Java8 to compatibility list. Especially for enterprise edition it'll be strange to migrate customers to unsupported platform…