You are probably thinking of CSS (Custom Computer Services) which makes a nice lower/medium cost compiler for PIC processors.
Code Composer Studio version 4 is Texas Instrument's Eclipse based IDE that is used to develop for most of their processors. While not open source, there is a perpetual free version that lets you develop up to 16k of code for the MSP430 and 32k for the C2000. In the case of the launchpad the largest of the MSP430G series chips is 8k so you can code to your heart's content without worries of bumping up on any limitations.
Take note of the download page on TI's Wiki
http://processors.wiki.ti.com/index.php/Download_CCSThe Stellars parts have different rules of which I'm not completely sure. I believe as long as you are using an onboard or XDS100 based programmer/debugger a person is fine using the CCS full version indefinitely.