I don't have that exact device to test with but I tested with a different msp430 device family and got the expected result. Can you check what the stack and heap size are set to in your project (Project Properties->Build->MSP430 Linker->Basic Options)? In my example they are both set to 160.
Depending on your code you may need to increase those sizes - this is a good wiki article that discusses tips for working with C I/O in general: http://processors.wiki.ti.com/index.php/Tips_for_using_printf