All:
The Kinetis families have the ability to support Floating point and the part numbers with those are defined, but the samples of those parts are not shipping yet. The first round of Kinetis silicon sampled to the market do not have FPU units. So CW, IAR, GCC etc all emulate FPU with library code which is why you are seeing so many clock cycles.
The K40 family and the other families will have pin for pin compatible versions that do have the FPU. So you can order later this year a version with FPU that will fit in your designs.
Today... CW knows that the FPU versions are not shipping... so there is no option or need to use the hardware module.
CW later this year will have FPU build options in the tool.
-JWW