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MSP430F5529 LP External Power Supply

Other Parts Discussed in Thread: MSP430F5529, MSP-EXP430F5529LP

My project requires Bluetooth Uart communication to emulate a specific tone from the MSP430F5529 LP. 

From the other threads....and if my understanding is correct....the Launchpad can be power by either 3.3 volts or 5 volts (I am assumed by a battery supply attached to a voltage regulator). If the 5 volts is attached, then the launchpad cannot perform any emulation and is incapable of UART; therefore, my code that is burned on the MSP430F5529 chip will not work with a 5 voltage power supply source . If the 3.3 Volts is attached then the emulation and UART will run but launchpad can not provide a 5 volt reference source.

Is this accurate? 

Please advise.
Thanks!
joe H.

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