Mostly for Google travelers from the future:
Most java tools are unfortunately unsuitable for this task, because they only analyze the JVM-Heap. Every Android Application also has a native heap, though, which also has to fit within the ~16 MB limit. It's usually used for bitmap data, for example. So you can run quite easily into Out Of Memory errors even though your JVM-Heap is chillin around 3 MBs, if you use a lot of drawables.