Check string value of boolean to a mapped enum
The redundant logical expression seems to be too complex for this case.

And there is probably a bug. You say that the expected set of values for it is ("0", "1", "false", "true"), but if value = "2", it will also evaluate to "true":

!("0".equals("2") || "FALSE".equalsIgnoreCase("2")); -&gt;

!(false || false) -&gt; !false -&gt; true


"2" is weird for "true" value.

So I suggest to reformulate the expression to 

Boolean.parseBoolean(value) || "1".equals(value)


"1" is still there, because parseBoolean checks for equivalence for "true" string value.

The logic of the entire method can be thus reformulated with improved readability and simplified:

public boolean createParameterObjectValue2(String value) {
  return Boolean.parseBoolean(value) ||
         "1".equals(value) ||
         evaluatesToTrueFromMetadata(value);
}

private boolean evaluatesToTrueFromMetadata(String value) {
  return getMetaData().getValidValues().isAvailable() &amp;&amp;
      getMetaData().getValidValues().getType() == ValidValues.Type.ENUM &amp;&amp;
      getMetaData().getValidValues(EnumValidValues.class).getEnumName(1).equalsIgnoreCase(value);
}


getMetaData().getValidValues() in the private method should also be extracted to a local reference in order to shorten the expression.