Hi pk2,
By default, the debugger settings will cause the code to run to main() before halting. Take a look at this post to make the debugger stop on the very first instruction in the code instead, so you can step through the code and see where it's crashing: Re: MQX on custom board stuck in dispatch.s
There is quite a bit of low-level initialization code that happens between boot and main(), so incorrect system clock setup, not enabling peripheral clocks, or VBAT/RTC issues (like described in the thread I linked to) can cause MQX to crash on a custom board before the code make it to main(). They have the same symptoms that you are seeing. Try stepping through the code from the first instruction, and see if you can spot where it's failing for your custom board.
-Anthony
Edit: Also make sure you are using the correct K52 100MHz processor family selection, as there are 1.x and 2.x versions and it can cause a bunch of problem if you're running 1.x code on a 2.x processor and vice versa. If your part number has a "Z" in it, it's a 1.x, and if not, then it's a 2.x.