Erich,
Thank you for your quick response.
I checked the debug configuration and it is unchanged from when the project was working.
It looks like I was able to resolve this issue by doing the following:
1) Exit codewarrior Eclipse.
2) Navigate to: Workspace directory\.metadata\.plugins\org.eclipse.core.resources\.history
3) Delete all folders except for 0 and 1 in this directory.
4) Restart CW and debug. Now the issue is no longer observed.