Reposting this issue from the InstaSPIN forum for this customer. It looks like maybe he doesn't have the proper driver for this emulator, or some other emulation configuration issue? Everything works as expected with CCSv5.2
http://e2e.ti.com/support/microcontrollers/c2000/f/902/t/337470.aspx
it's looking for file "boot28.inc"
Searching for that lead me to these two threads
http://e2e.ti.com/support/development_tools/code_composer_studio/f/81/t/239016.aspx
http://e2e.ti.com/support/development_tools/code_composer_studio/f/81/p/230662/811582.aspx#811582
which appear to point to him halting / resetting during boot?
Any help is appreciated.