As I have developed plugins for Eclipse professionally for the last 10 years, I simply had to create a simple feature to automate the work and ease my problems :-)
Basically this feature for Monkey C will turn the "@PC = ...." lines in the console into proper links to the relevant source files as shown below.

If you click on the link, the relevant `.mc` file will open and the relevant line will be selected. Remember that if you make changes to the file after the last run, the line number might not match.
To get the stack trace above, you must remember to check the option "If available, print internal error stack trace..." in the Connect IQ preferences.
To install in Eclipse, use the install site http://blackdogit.github.io/connectiq-monkeyc/repository - this is described in details on this page.
You can find the feature on Github: https://github.com/blackdogit/connectiq-monkeyc/wiki. You also find the sources here released under EPL.
Bugs and feature requests can be reported either via Github or in this thread.
[Thanks to those that helped with the testing of the feature...]
History:
- 1.1.0 - 20150214 - first version released for testing
- 1.1.1 - 20150216 - small fix to properly decode the filenames in Windows (I use Mac) - thanks TeunMo.