Dear bluehacker,
The latest USBDM (V1.5) has a Coldfire version USBDM/CF. It has not had much testing (MCF5223x and MCF52210) but is equivalent in function to the TBLCF available here:
http://forums.freescale.com/freescale/board/message?board.id=CFCOMM&thread.id=624
so should support the same chips. In particular it may not work with devices that require the BDM signals to be synchronized with the PSTCLK. Not doing this may lead to meta-stability problems apparently. The later Coldfire devices do not nhave this requirement.
Good for hobby or class use but for commercial use I would recommend a 'real' debugger with tech support.
bye