I've tried the two snapshots this week (18w08a and 18w08b), and both of them appear to be working with my original parameters. I have not had a chance to jump into the game and try things, but the server launches successfully.
I see the same issue: First time I connect to my server (running on the same machine, using localhost, if that matters), I get this exception. If I try again immediately, I can connect successfully.
If I stop the server and start it again later, the same exception occurs on first attempt to connect.
Edit: This is on 17w13b. Did not see with 17w06a. I don't remember it with 17w13a, either.
I disagree: I was not asking for Mojang to assist me in this issue. This was an attempt at a courtesy notice that Java has updated, and it appears to have introduced side-effects with the minecraft server 11.2 jar. Per Oracle's policy, when crashes are uncovered in a Java app after updating the Java version, an issue should be raised with the app creators, so I attempted to do so. However, apparently that was a mistake on my part. My apology.
Update: Now trying to launch the server in order to play, and it is still >80% hang as previously described. I'm not sure if running an instance of the Java Edition in addition to the server on the same machine is a factor.