Resolution:
Use the "openToolbox" utility located in the &ltBC>/bin:

1> Run &ltBC>/bin/openToolbox
2> Open Property Editor
3> Click View Menu and then select "Show Advanced Properties"
4> Select the "Trace" tab
5> From the section "Ae Trace Roles", remove the # in front of all the properties and set all of them to true
6> Go to the end of the screen and set "Activate Script Tracing" property to true removing the # in front of it
7> Save the properties file
8> Restart BC

The trace gets generated under &ltBC>/log/server directory.
Engine.1 gets generated under &ltBC>/im/bin/errlog directory.