simavr not producing gtkwave files

I just installed simavr from the following:

https://github.com/buserror/simavr

I did a quick

make all
sudo make install

No problem, but when running

$ ./simavr/run_avr tests/atmega88_example.axf

I get

AVR_MMCU_TAG_VCD_TRACE 00c6:00 - UDR0
Loaded 1708 .text at address 0x0
Loaded 114 .data
Loaded 4 .eeprom

But, what I'm expecting is

AVR_MMCU_TAG_VCD_TRACE 00c6:00 - UDR0
AVR_MMCU_TAG_VCD_TRACE 00c0:20 - UDRE0
Loaded 1780 .text
Loaded 114 .data
Loaded 4 .eeprom
Starting atmega88 - flashend 1fff ramend 04ff e2end 01ff
atmega88 init
avr_eeprom_ioctl: AVR_IOCTL_EEPROM_SET Loaded 4 at offset 0
Creating VCD trace file 'gtkwave_trace.vcd'
Read from eeprom 0xdeadbeef -- should be 0xdeadbeef..
Read from eeprom 0xcafef00d -- should be 0xcafef00d..
simavr: sleeping with interrupts off, quitting gracefully

I've got GTKWave installed and all dependencies (otherwise, it wouldn't build, right?)...Not sure where the VCD trace is failing to execute.

Thanks

Use this:

$ ./simavr/run_avr -v -v tests/atmega88_example.axf