jschell, maybe you should try actually testing this. I agree that calling a connection with a long-running statement "abandoned" is odd, but that is how Oracle (or at least Oracle's connection classes) treat it. If the abandoned connection timeout is set, a connection that takes longer than that to execute a query will be timed out. This happens with the old and new connection pool classes.
The logic behind considering long running SQL abandoned is that both SQL and Java code can be the cause of runaway computations. Either SQL or Java can get wedged such that the app isn't making progress. The abandoned connection timeout kills wedged apps regardless of whether they are wedged in Java or in SQL.
Of course it is the case that Java can get stuck in a loop calling the same SQL repeatedly and the abandoned connection timeout will not be triggered. Oh well. It catches what it can.