Have you asked Nohau for support?
These bits of kit are not exactly cheap, so it's worth investing in the support which comes with them.
Salem
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I'm not familiar with that product but am familiar with various emulators, etc.
Same target, same emulator?
Check for loose connections on the target. Double check your pins! Your target has all voltages it requires? Verify that!
Did the target sustain an electrical discharge? The idea is look for a bent pin, something loose, or blown. Corrosion!
Did you use unleaded solder? Look for cat whiskers!
Something could have happened to either unit while in storage. Was the emulator used for some other project since, and so miss configured?
Does it act like its downloading the kernel/app code but doesn't seem to run? If so, does it actually run but very very slowly? Check for a damaged xtal. Crystal's and Oscillators can get pretty finiky if the board they are attached to gets dropped!
wildgoose
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I agree with wildgoose, this stands a good chance of being a local hardware problem.
Try the emulator with known good hardware.
Are there any advanced diagnostics for the probe, more than what would be quickly executed at startup?
Do some research into ESD, and adopt some safe practices
http://support.necam.com/mobilesolutions/hardware/esdhandle.asp
Devices seldom get fried in a single exposure, but damage is cumulative.
Some trivial event repeated often enough will render your board dead.
Salem
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