Yes, I have seen that in several places used. It is not CodeWarrior specific. I think 'ipl' stands for 'Interrupt Priority Level': using that (assembly) function you pass the new interrupt mask and on return you get the previously set interrupt level back. So you could use it like
oldLevel = asm_set_ipl(MASK_ALL_INTERRPTS); /* disable interrupts */
critical section here;
(void) asm_set_ipl(oldLevel); /* restore previous interrupt level */
If the question is about what the __declspec(register) is about: this tells the compiler to use 'register' calling convention (instead of passing the parameters on the stack).
Hope this helps,
Erich