I confirm that Daniel Grant's approach works for at least the following situation: target project does NOT have an asset folder (or the folder is empty, so you can safely delete it).
I did not setup any variable.
Simply setup a LinkSource as follows (just an example)
Linked folder location: /home/matthew/workspace_moonblink/assetsForAdvocacy/assets
Folder name : assets
The "assetsForAdvocacy" is a Java project, (created with New- Project - Java Project) with empty src folder, and a new folder named "assets", which now provides the entire assets folder for the target project.
This is a fairly straightforward way within Eclipse to provide assets re-use across many different projects IF they do not already have assets, good enough to get going with. I would probably want to enhance it to become a content provider in the long run, but that is a lot more development.
My project accesses the assets with the following code:
String advocacyFolderInAssets = "no_smoking/"; //a folder underneath assets/
String fn =advocacyFolderInAssets+imageFilename;
Bitmap pristineBitmapForAdvocacy = getBitmapFromAsset(context, fn);
I use Motodev Studio 3.1.0 on Ubuntu. It would not let me 'merge' a new assets folder in the new assets-only project onto an existing assets folder in the target project.