I had this same problem. You should have better luck if you increase the PermGen space allocated to Eclipse by the Java VM.
You can
read the details of the problem if you like, but the quick answer is below.
Locate the eclipse.ini configuration file.
Mac: {eclipse}/Eclipse.app/Contents/MacOS/eclipse.ini
( such as: /Applications/eclipse/Eclipse.app/Contents/MacOS/eclipse.ini )
PC: {eclipse}/eclipse.ini
( such as: C:\Program Files\eclipse\eclipse.ini )
Where you see "-Xmx256m", make that "-Xmx512m".
Also add this argument right after it: "-XX:MaxPermSize=128m"
Your eclipse.ini file should now look something like this (excluding other options that may also be present):
-vmargs
-Xms40m
-Xmx512m
-XX:MaxPermSize=128m
Restart Eclipse, and you should be okay now.