folded JJ on the bubble to raise+reraise... too tight?

Four players remain in a $30 Paradise SNG. All players have been active in stealing blinds and play has been generally solid, although the table has tightened up significantly on the bubble with 4 roughly equal stacks. In most of the recent hands the preflop raiser has taken down the blinds uncontested.

Paradise Poker No-Limit Hold'em Tourney, Big Blind is t200 (4 handed) converter

Hero (t2520.00)
BB (t2292.50)
UTG (t2197.50)
Button (t2990.00)

Preflop: Hero is SB with J[img]/images/graemlins/club.gif[/img], J[img]/images/graemlins/diamond.gif[/img]. Hero posts a blind of t100.
<font color="#CC3333">UTG raises to t525</font>, <font color="#CC3333">Button raises to t2990</font>, <font color="#666666">2 folds</font>, UTG folds.

Final Pot: t3815


I would have open-raised JJ or reraised UTG's bet, but facing the raise and reraise, I felt my hand shrunk quite a bit. I would've called QQ or higher but felt JJ was right on the edge... Would you have called?

Interestingly enough, after the hand UTG said he folded KJ and button said he had JJ! Not sure which one was lying, although based on earlier chats I'd be more likely to believe UTG.