The P&E Toolkit on Freescale website DOES NOT WORK with the latest Firmware of the JTAG Micro. The available version in Freescale website is version 2.01, and the P&E has version 2.05.
You can get the latest firmware updater, P&E Toolkit by accessing the following link (works for OSJTAG as well):
The available version in the CDs and Freescale website, installs under P and E Kinetis Tower Toolkit , whereas the working version installs as, P and E OSBDM OSJTAG VIRTUAL SERIAL TOOLKIT .