According to the MPC5675K Reference Manual in chapter 8 "Flash Memory", Read-While-Write accesses within a Flash module is not possible. That is, it is impossible to erase or program a Flash sector when executing code from another sector within the same Flash module.
But when I am using the Standard Software C90LC Driver it seems to do exactly that: executing from a Flash module sector when erasing/programming another sector within this same Flash module...