The attached document shows how tou use Processor Expert Driver Suit to generate code for IAR. You can see details in the notes at the botton of the slides.
There is a problem with absolute paths in ProjectInfo.xml that is generated by ProcessorExpert and used by IAR project connection.
It is natural to keep project consistent by keeping processor expert files together with rest of files in IAR project. In this way check out of code to other location will use expected processor expert files in project.
Right now, supplied IAR 7.40.7 project wont build for you since unpacking it will (most likely) violate absolute path in ProjectInfo.xml and project wont build.
IAR claims that problem is Freescale Processor expert and they do not see any solution to it...