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jedit.exe should have a command line option and/or an ini file (like eclipse.ini) to specify a VM and VM init parameters.
On Windows, if you are using the jedit.exe launcher, you can add or change the JVM arguments by editing a file called jEdit.l4j.ini in the same directory as the jedit.exe. Place one JVM argument (e.g. -Xmx512m) on each line by itself.