Openfire 3.8.0 finally allows the package to depend on OpenJDK however the init.d script has not been updated to reflect this change.
The following resolves the issue and the server starts successfully.
+++ /etc/init.d/openfire 2013-02-11 15:57:57.051887681 +1100
@@ -25,6 +25,8 @@
then
t=/usr/lib/jvm/java-1.5.0-sun && test -d $t && JAVA_HOME=$t
t=/usr/lib/jvm/java-6-sun && test -d $t && JAVA_HOME=$t
+ t=/usr/lib/jvm/default-java && test -d $t && JAVA_HOME=$t
fi
PATH=/sbin:/bin:/usr/sbin:/usr/bin:${JAVA_HOME}/bin