Simulator: No settings file found for this app. This app may not have settings.

When trying to move away from Eclipse (Mac), I'd love to use the Settings editor within the Simulator. But when doing File > Edit Persistent Storage > Properties: I'm seeing this error: "No settings file found for this app. This app may not have settings." While it definitely has settings which work on the Eclipse settings editor.

Any clue what I'm missing here?