Hi Firoz,
Freescale has CodeWarrior for MPC55xx/56xx v2.7 available here:
http://cache.freescale.com/lgfiles/devsuites/PowerPC/CW55xx_v2_7_SE.exe?fpsp=1&WT_TYPE=IDE%20-%20Deb...
So if you used to work with CodeWarrior for S12 IDE it will be familiar to you.
Plus if you have valid standard or professional CodeWarrior suite license you can generate also license for CW for MPC55xx.
There are also other vendor tools e.g. GreenHills Multi, Diab,....
Stanish