Code Warrior v.11 supports Profiling on S12Z.
Please refer to Profiling and Analysis Users Guide
In the CW11 installation folder ...\Freescale\CW MCU v11.0\MCU\Help\PDF\Profiling and Analysis Users Guide.pdf
Section 3.2.6 Configure S12Z Target.
I would recommend contacting all the 3th party vendors for more information about the their debuggers.