Rafael,
Positive the USB emulator was connected to the VM.
I actually sent the XDS200 back to Spectrum Digital and got the XDS220 USB/LAN thinking an ethernet connection would be more robust with a VM, but I'm having problems with it too.
Testing the connection just hangs. I finally got it working a couple times. Then it started failing claiming the target and the binary were different endian. Now I'm back to testing the hangs.
Mike