First of all, do you mean you want a square wave with a 64us period? Or some kind of a pulse?
Please clarify. You probably need to set a low time as well.
I don't see you setting a mode in TCTL2 which means the timer is disconnect from the pin.
I'm guessing you want "Clear OCn output line to zero", which for channel 1 would be set bit 3 in this register.
(see page 23 in the spec).
Why are you using the WAI instruction? Why not just loop. No doubt this causes a problem for the BDM, so why do it.
Most of the time "C" is used, so this instruction is rarely used. You can use it, but it may cause untested problems with the BDM.
As for your PLL code, please post it or we can not comment on it. Does it work without the WAI?