I just found out that changing to 64 bit Java from 32 bit helps lots in terms of framerate, performance etc.
I have tried copy pasting the latest java version into the spiral knights folder but the game wouldnt run because of java error. Something about can't create virtual java machine or something. Is there a fix to this, please help me out!
I don't know much about this. But in case you're not already aware, we occasionally have threads on this topic, and maybe one of those threads contains the specific information you want. Try this Google search:
64-bit Java site:forums.spiralknights.com
Perhaps someone with more knowledge will chime in soon to help you. Good luck.