Jaywalking here is just not done. The Bavarians feel very strongly about their traffic rules. Although there are some rules they break fairly often (e.g., talking on their cell phone while driving or smoking in non-smoking areas in the metro), this is one that is sacred to them. They wait patiently at the lights, not even looking down the street to see if there's an opening they can take advantage of.
I've only ever seen teens and young hipsters do it. Greg and I jaywalk on a regular basis though. And we don't even have to hold hands to cross either! It's not that we don't respect the rule--we understand the purpose for those who have trouble seeing the cars or can't walk across the street quickly enough. But we're young, healthy, spry things who can make it across the street fine without a little green man showing us the way.
However, sometimes the peer pressure from the crowd is so great that I do wait at the light. That's why I think this social more isn't going away any time soon.