I saw jpathwatch being used to accomplish something similar, and this works with Java 5. This allows you to poll file or directory changes at intervals, for example. every second.
If your webservice endpoint URI was an emergency for the configuration file, you can configure jpathwatch to monitor this configuration file, and when it has changed, recreate your web service using the new configuration value.
I'm not quite sure how this can be used to reload spring beans, maybe this is possible.
Website: http://jpathwatch.wordpress.com/
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