Hi!
I tested Testisland jme2.0 with lwjgl 2.0rc1 binaries
and get the following exception
java.lang.RuntimeException: FrameBuffer: 3, has caused a GL_FRAMEBUFFER_UNSUPPORTED_EXT exception
at com.jme.renderer.lwjgl.LWJGLTextureRenderer.checkFBOComplete(LWJGLTextureRenderer.java:754)
at com.jme.renderer.lwjgl.LWJGLTextureRenderer.render(LWJGLTextureRenderer.java:626)
at com.jme.renderer.lwjgl.LWJGLTextureRenderer.render(LWJGLTextureRenderer.java:546)
at com.jmex.effects.water.WaterRenderPass.renderRefraction(WaterRenderPass.java:571)
at com.jmex.effects.water.WaterRenderPass.doRender(WaterRenderPass.java:360)
at com.jme.renderer.pass.Pass.renderPass(Pass.java:90)
at com.jme.renderer.pass.BasicPassManager.renderPasses(BasicPassManager.java:90)
at com.jme.app.SimplePassGame.render(SimplePassGame.java:84)
at com.jme.app.BaseGame.start(BaseGame.java:84)
at at.activenet.jme.TestIsland.main(TestIsland.java:88)
Which revision worked for you?
it must have been 3999 or 4000 not sure exactly on this two but it was higher 3998
I could try if you wish with earlier build
Please do… the test still works fine on all machines I have. 
LWJGL that comes with jME2.0 is lwjgl 2.0rc1 or do you change it?
its the same for me with the downloaded and the included version of lwjgl
Need to go back in revisions
I have the problem only when going fullscreen.
In window mode I do not have any exceptions.