Hello
I did a quick test with v10.1 and Coldfire v1 project.
sizeof(float) returns 4
sizeof(double) returns 8.
So according to my understanding float variables are stored on 4 bytes.
Note that if you enable c99 language you should be able to use fiction sqrtf, which is an implementation of sqrt with float parameter and return value instead of double.
If you activate c99 language you need to link the appropriate library to your project.
For library naming convention check MCU_ColdFire_Compiler.pdf, chapter ColdFire runtime Libraries.
CrasyCat