It's been a while but I believe the issue was the driver. I installed Freescale CDC Device driver version 5.1 (9/11/2010). I was then able to communicate somewhat using the TWR-SER2 board as the USB to serial bridge and the program HyperSerialPort - but not reliably enough for debugging. I purchased the Freescale EVBUSB2SER Board and connected Uart 5s TX, RX, and GND to the header available on the board. Using HyperSerialPort I am able to reliably get printf statements to output. It is not a completely satisfactory solution because it uses a program outside CW and has to be reset more often than I would like. I am using my own printf library which Is fine but I would prefer to use what is already in the CW libraries. I wasn't able to figure out how to do this.
I hope this helps!
Elizabeth