I think it's probably flooded.
Here are some ideas/thoughts/reccos:
As much as I hesitate in recommending this approach -- sometimes, it's all that works: Burn the excess fuel out of the cumbustion chambers with a long match or a propane torch. Now -- you need to be really, REALLY, careful with fire around gasoline! You may need to (slowly) rotate the engine via the rear wheel? -- top gear/sparkplugs removed. But, once you burn the fuel in there you may have a chance to get it going -- otherwise, you'll just be adding more fuel to an already 'too much' condition (see 'radman's post). Make sure you're not going to start a fire....!!
W.O.T. is the key for starting a flooded engine.
Next..., be judicious about running the starter motor. Many m/c starter motors have been ruined trying to start bikes that aren't going to run -- no matter how long the button's pushed-in. Used to be the same for kick-starters -- many broken trying to start bikes with a problem.
I don't know about the FJR?...but, many fuel injection systems go 'richer' with lower voltage -- so, 12.8 volts is nec. to start with and realize the more you crank the lower the voltage and, maybe?, the 'richer' (for sure, you'll be injecting more).
And finally: for those who may want to start their FJR with their hand on the throttle: The FJR's F.I. computer has all the info it needs to start your engine (cold) without a throttle signal from you. Turn the key 'on' (wait for pump to pressurize the system), disengage the clutch, press the button. Do not send a 'throttle' signal with the twistgrip. Crank a few revs -- if it doesn't start -- stop pressing the button. Then, just repeat the button press. This, I think, will usually work -- altho, 'wheaton's issue is beond that -- prolly flooded?.
But, back to all others: the FJR cold-start system has seemed very effective to me -- just press the button (mine runs in-excess of 2K (sometimes when fairly cold, close to 2.5K).
Good Luck, 'wheaties'.