MSP430F2274 write to flash example works with simulator but not with MSP-FET430UIF emulator

The example used is the "msp430x22x4_flashwrite_01.c" example downloaded from TI's web site.
It is for the msp430x22x4. I use MSP430F2274 so I guess it should work.

Is there anything special I need to set in the project options or emulator options when I program the internal flash?  

The code:

//******************************************************************************
//  MSP430F22x4 Demo - Flash In-System Programming, Copy SegC to SegD
//
//  Description: This program first erases flash seg C, then it increments all
//  values in seg C, then it erases seg D, then copies seg C to seg D.
//  ACLK = n/a, MCLK = SMCLK = CALxxx_1MHZ = 1MHz
//  //* Set Breakpoint on NOP in the Mainloop to avoid Stressing Flash *//
//
//               MSP430F22x4
//            -----------------
//        /|\|              XIN|-
//         | |                 |
//         --|RST          XOUT|-
//           |                 |
//
//  A. Dannenberg
//  Texas Instruments Inc.
//  December 2006
//  Built with CCE Version: 3.2.0 and IAR Embedded Workbench Version: 3.41A
//******************************************************************************
#include "msp430x22x4.h"

char value;                                 // 8-bit value to write to seg C

// Function prototypes
void write_SegC(char value);
void copy_C2D(void);

void main(void)
{
  WDTCTL = WDTPW + WDTHOLD;                 // Stop watchdog timer
  BCSCTL1 = CALBC1_1MHZ;                    // Set DCO to 1MHz
  DCOCTL = CALDCO_1MHZ;
  FCTL2 = FWKEY + FSSEL0 + FN1;             // MCLK/3 for Flash Timing Generator
  value = 0;                                // initialize value

  while(1)                                  // Repeat forever
  {
    write_SegC(value++);                    // Write segment C, increment value
    copy_C2D();                             // Copy segment C to D
    __no_operation();                       // SET BREAKPOINT HERE
  }
}

void write_SegC(char value)
{
  char *Flash_ptr;                          // Flash pointer
  unsigned int i;

  Flash_ptr = (char *)0x1040;               // Initialize Flash pointer
  FCTL3 = FWKEY;                            // Clear Lock bit
  FCTL1 = FWKEY + ERASE;                    // Set Erase bit
  *Flash_ptr = 0;                           // Dummy write to erase Flash seg

  FCTL1 = FWKEY + WRT;                      // Set WRT bit for write operation

  for (i = 0; i < 64; i++)
  {
    *Flash_ptr++ = value;                   // Write value to flash
  }

  FCTL1 = FWKEY;                            // Clear WRT bit
  FCTL3 = FWKEY + LOCK;                     // Set LOCK bit
}

void copy_C2D(void)
{
  char *Flash_ptrC;                         // Segment C pointer
  char *Flash_ptrD;                         // Segment D pointer
  unsigned int i;

  Flash_ptrC = (char *)0x1040;              // Initialize Flash segment C ptr
  Flash_ptrD = (char *)0x1000;              // Initialize Flash segment D ptr
  FCTL3 = FWKEY;                            // Clear Lock bit
  FCTL1 = FWKEY + ERASE;                    // Set Erase bit
  *Flash_ptrD = 0;                          // Dummy write to erase Flash seg D
  FCTL1 = FWKEY + WRT;                      // Set WRT bit for write operation

  for (i = 0; i < 64; i++)
  {
    *Flash_ptrD++ = *Flash_ptrC++;          // copy value segment C to seg D
  }

  FCTL1 = FWKEY;                            // Clear WRT bit
  FCTL3 = FWKEY + LOCK;                     // Set LOCK bit
}