And as far as your error above, the short flag syntax is unfortunately odd to the un-initiated:

./pants bundle.jvm --archive=tgz src/java/org/pantsbuild/tools/junit/::
...
19:22:19 00:12   [bundle]
19:22:19 00:12     [consolidate-classpath]
                   Invalidated 10 targets.
19:22:19 00:12     [jvm]
                   Invalidated 1 target.
19:22:20 00:13       [create-monolithic-jar]
19:22:20 00:13         [jar-tool]
                   created bundle copy dist/src.java.org.pantsbuild.tools.junit.main-bundle
                   created archive copy dist/src.java.org.pantsbuild.tools.junit.main.tar.gz
19:22:21 00:14     [dup]
19:22:22 00:15     [zipalign]
19:22:22 00:15   [complete]
               SUCCESS