For reference, here is a sample Debug Log:
Tue Feb 09, 2016 15:57:26: Loaded macro file: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac
Tue Feb 09, 2016 15:57:27: Loaded macro file: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\flashloader\Freescale\FlashKW01.mac
Tue Feb 09, 2016 15:57:27: Loading the CMSIS-DAP driver
Tue Feb 09, 2016 15:57:27: Probe: CMSIS-DAP probe SW module ver 1.11
Tue Feb 09, 2016 15:57:27: Probe: CMSIS-DAP S/N '0290ff039ED54E0F9E29B367' mapped to a number 00367.
Tue Feb 09, 2016 15:57:27: EARM v.3.96
Tue Feb 09, 2016 15:57:27: Emulation layer version 3.96
Tue Feb 09, 2016 15:57:27: Notification to core-connect hookup.
Tue Feb 09, 2016 15:57:27: MDM-AP detected
Tue Feb 09, 2016 15:57:27: Probe: ConnectSpec='MBED CMSIS-DAP:0290ff039ED54E0F9E29B367:8-317CFB24-0-0000'.
Tue Feb 09, 2016 15:57:28: Connecting to TAP#0 DAP AHB-AP-CM port 0 (IDR=0x4770031).
Tue Feb 09, 2016 15:57:28: Recognized CPUID=0x410cc601 Cortex-M0+ r0p1 arch ARMv6-M
Tue Feb 09, 2016 15:57:28: Debug resources: 2 instruction comparators, 2 data watchpoints.
Tue Feb 09, 2016 15:57:28: CPU status OK
Tue Feb 09, 2016 15:57:28: LowLevelReset(hardware, delay 200)
Tue Feb 09, 2016 15:57:28: CPU status FAILED
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 15:57:28: CMD_INTERPRETER: failed
Tue Feb 09, 2016 15:57:28: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\debugger\Freescale\KLxx.dmac(82,17): Error: Operation error.
Tue Feb 09, 2016 15:57:28: Error while calling macro execUserCoreConnect
Tue Feb 09, 2016 16:02:52: Fatal error: CPU did not power up Session aborted!
Tue Feb 09, 2016 16:02:52: Unloaded macro file: C:\Program Files (x86)\IAR Systems\Embedded Workbench 7.3\arm\config\flashloader\Freescale\FlashKW01.mac
Tue Feb 09, 2016 16:02:53: Logging to file: C:\Freescale\KW40Z_Connectivity_Software_1.0.1\ConnSw\examples\ieee_802_15_4\MyWirelessApp\Coordinator\frdmkw40z\FreeRTOS\build\iar\cspycomm.log
Tue Feb 09, 2016 16:02:53: Loading the CMSIS-DAP driver