It works now. It was a problem with my the transformation code from jPCT's into OpenGL's coordinate system that only occured when using a combined transformation matrix, which jPCT by itself doesn't, which is why i never noticed it before. This is how it looks like (note that there's no distortion (i.e. the water is a planar mirror), because i'm not using shaders for this):

It cuts framerate almost in half, because you render the scene two times. One for the normal view and one for the reflection map. One may use a cheaper scene for the reflection map (like replace the trees with billboards and such), but i didn't want to take this demo too far. It even runs on a shitty i945G Intel integrated graphics...but very slow (not that this thing would be fast otherwise...).
I'll release a version for download when i've cleaned everything up, which may take a while...