Now that the target configuration is defined and activated, prior to run Modelio within Eclipse we should create a debug configuration.
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Select the menu "Run –> Debug Configurations…"
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Select "Eclipse Application" (1)
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Create a new debug configuration (2)
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Type in a name for this debug configuration (3).
For example:modelio debug - 
In the "Program to run" section, check "Run a product", then type in:
org.modelio.app.ui.modelio(4) - 
In the "Java Runtime Environment" section, check "Runtime JRE", and type in:
modelio-by-modeliosoft(5) - 
Click on the "Apply" button (6)
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Click on the "Debug" button to execute Modelio in Eclipse (7)
 
Modelio should start: