Ok, that is what I suspected.
The values you need to enter are different than you're expecting.
You should enter
- Not the server Uri, but the project collection uri
http://server:8080/tfs/CollectionName
- Not the
$/server/collection
path, but the$/Project/path
Akin to this:
If you, like me, execute the tfpt searchcs
from a folder that is mapped to TFS, the power tools should automatically populate these fields.