Update
The logged error you provided leads to Install from updatesite hangs under Java 7 and in turn Eclipse Bug 362741 - downloads from update sites hang - (3.7.1 Indigo SR1 windows), see comment 6 specifically (you already applied comment 7).
Please note that while this seems to be a JDK 7 problem at first sight, the linked Java Bug 7077696 - java.net.Socket closes when "PASV" is sent on an authenticated FTP connection classifies the issue as a REGRESSION. Last worked in version 6u26, while you are using 6u30 already. Accordingly, the issue is reported to be fixable by switching to Java 6 elsewhere (implying an earlier version), see e.g. Cannot do any software installs using jdk1.7.0_01 (which uses 6u22):
However, everything works right if I then change the eclipse.ini to
change the vm to JDK 1.6:
-vm C:\Java\jdk1.6.0_22\bin\javaw.exe
Oracle's Evaluation concludes, that This does not appear to be a JDK bug, rather it's just the Windows firewall recognizing and blocking the ftp protocol.:
The only
difference between JDK7 and older releases is that the JDK is using
IPv6 sockets when IPv6 is enabled and so IPv4-mapped IPv6 addresses
are used. it may be that Windows or the firewall is not configured to
allow IPv6 sockets. [...]
Accordingly, they list a Workaround as well:
Run with -Djava.net.preferIPv4Stack=true
add a firewall exception for the Java binary.
run with -Djava.net.preferIPv4Stack=true (which disables IPv6 and uses AF_INET sockets exclusively)
or disable stateful FTP inspection in the firewall (registry setting or netsh command)
The firewall adjustment seems to be a confirmed workaround as per comment #4 in Socket Exception only in Java 7 (though simply turning it off like there should be handled with care of course).
Good luck!
Presumably you are already aware of Robamaton's answer to Eclipse, Android Plug-in, Install New Software just says “pending” (there are many ADT related questions and strangely it didn't show up immediately in a respective search)? It basically comes down to Codejammer's hint towards Preferences->Network Connections (+1), though with an explanation why it might still fail on your network regardless, see the comments:
Oh, I read that it doesn't respond to general requests from browsers.
In any case, network admin confirms it's making a socks connection,
but then doing nothing further.
and
Ok, further to previous comment, it's probably trying to connect via.
socks 5 - but our network only has socks 4. Admin is going to run the
5 version to see if it then works.
Workaround
Regardless of whether the socks 4 vs. socks 5 proxy settings are actually the problem, a potential workaround might be to install Eclipse and ADT on a different system (ideally on a different network), and copy the resulting folder to yours thereafter (after all, an Eclipse installation is simply a collection of files).
When doing so, please ensure to match 32- vs. 64-bit regarding both the JDK and Eclipse between the source and the target system, because a mismatch would yield other problems (see e.g. my answer to Failed to load the JNI shared library on starting Eclipse).
java.net.SocketTimeoutException: Read timed out
error in the log, so I believe this problem is related to the network. Have you tried within another network? – Huang