Op_return has been increased to 80 bytes in bitcoin-core as per this pull 
request

https://github.com/bitcoin/bitcoin/pull/5286

Then why is it sill in the bitcoinj library checking for only 40 bytes ?

/**
 * Creates a script of the form OP_RETURN [data]. This feature allows you 
to attach a small piece of data (like
 * a hash of something stored elsewhere) to a zero valued output which can 
never be spent and thus does not pollute
 * the ledger.
 */
public static Script createOpReturnScript(byte[] data) {
 checkArgument(data.length <= 40);
 return new ScriptBuilder().op(OP_RETURN).data(data).build();
}



Also is there some means by which I can issue a transaction to a particular 
address with OP_RETURN data ?

SendRequest req;
Transaction transaction ;
transaction = new Transaction(Main.getNetWorkParameters());
transaction.addOutput(amount, ScriptBuilder.createOpReturnScript("bitcoin 
is such a great platform, trying to dig deep into it".toString().getBytes
()));
//issue this transaction to an address, rather than adding a second out put 
?
req = SendRequest.forTx(transaction);





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