This interesting behavior of build or make targets dialogs for paths with spaces.
Lets say that build command path contains spaces. If SDT make project is created through command line then build target can be executed. If Build Properties dialog is opened, path unrelated change is made and changes are saved then build command stops working because of the spaces in the path. After correcting Build command in the same dialog by enclosing it in double quotes (CCSv4 still displays full command correctly), CCS can build again. If Build properties dialog is opened and unrelated change made again then build command stops working until double quotes are added. The same is true for make targets dialog.
It looks like CCS loses double quotes at opening Build/Make properties dialogs.
Eugene