I have three projects in my eclipse workspace:
EventKitchenCore
EventKitchenDesktop
EventKitchenAndroid
EventKitchenCore
contains
I believe what you are looking for is the "Link Source" option within Eclipse. From your android project, select the project and right-click to select "Build Path" > "Link Source". This will allow you to have your Java library accessible within the same build path as your android app for development.