Not yet. The recent work has been on stabilizing the existing codebase. There will be a release next thursday with the result of this stabilization. Work on Leiningen generic launcher support had been postponed until after that (and there was also the fact that I had to choose a strategy for how to implement this. I think that I now have my mind clear on what could work, so the good news is I know what I'll try to implement (*)
There is a workaround, because even if it is not apparent when using shortcuts such as Ctrl-Alt-S, etc., there is an underlying Eclipse concept, that of a "Launch configuration", which is associated with the "launch" of the REPL's JVM. This "Launch configuration" is created on a per-project basis, and can be found (once you've started a REPL for the first time) in the Run > Run configurations ... menu (under the Clojure tree item on the left, you'll see one configuration per project).
Select the launch configuration for your project, its detail will appear on the main pane on the right, organized via tabs.
Under the "Arguments" tab, you'll be able to specify Program Arguments as well as VM arguments (e.g. -Xmx512m, etc.)
I don't think it's possible to specify this once and for all for all launch configurations, but rather once per project.
HTH,
--
Laurent