I have 2 newer young JM, one planted last December 2012 and one planted in early April 2013. Both are leafing out. Last night I attempted to put a bed sheet over each but with the wind I was worried that their skinny branches might break with the movement caused by the significant breeze coupled with the extra weight of the sheets. So in the end I removed the sheets and by chance there was no frost. But tonight is even more threatening. I would like to know what is the best course of action to protect their tender foliage.
I have a giant sheet of thin plastic (50' x 50' at least), which you can get at hardware stores for not much money, that I put over my entire collection of potted maples and weight down with bricks around the edge. Branches are quite flexible--I don't think there would be much damage. I'd also think a bed sheet would be fine, unless perhaps you got a heavy rain. Very handy for those few cold nights after leaf-out, which seem to happen every year. Good luck. Everyone down here in Ithaca is nervous about tonight, but with a bit of luck we'll escape. Last night it only got down to the low 40s.
Frost fleece is almost weightless when dry.I stick 4 canes around the plant then clothes peg the fleece to the canes.