Issue with LOG_printf not working in CCSv5.5

Hello,
I'm on search for help regarding the DSP/BIOS LOG_printf functionality in the CCS5.
More detailes in the context of CCS3.3 to CCS5 migration.

Recently I started to migrate projects from Code Composer 3.3 platform to Code Composer 5.5.
My platform is TMS320C6727 DSP. I use an emulator Blachawk USB560.

Although my audio (McASP+dMax based) application runs properly.
in my migrated project LOG_printf messages are not visible at all!

In debug view available menu item “Tools >RTOS Object View (ROV)”, I see following "Viewable Modules":
KNL, LOG, MBX, MEM, SEM, SWi and TSK. Here details for manually stopped CPU:

• "LOG" displays not even a single message.
• "MEM module" displays the following:
  „Received exception from RCV server“
  Target memory read failed at address 0x100208f0, length: 16
  This read is at invalid address according to the application’s section map. The application is likely either uninitialized or corrupt.
• "Viewable Modules" TSK and SEm seem to display correctly available tasks and semaphores.  

I've performed two different methods of migration.

1. Migrated an existing CCS3.3 project to CCSv5.5 using built-in wizard in following manner:
   placed project and source files into manually prepared folder inside the workspace, started wizard ([C/C++ View] Project > Import Legacy CCSv3.3 Project), imported project by leaving its contents at their original location.
   (it was necessary to "help" a wizard a bit by removing invalid include paths).
2. "From scratch" approach by creatinga new project manually, then step-by-step adding single c modules and setting their local properties, and DSP/BIOS .tcf configuration file.

I attached snapshots of LOG and MEM Viewable Modules.

For test purpose I created another workspace and performed new
Thank you,
Mladen