Frank, you can put the agent in debug mode and then look at the rscd log.
In /Windows/rsc, you'll find a file named "log4crc.txt". just under the "root category" comment, you'll find two category tags with the names, "rscd" & "rscdsvc" with priorities of "info1" & "info", respectively. Change both of these priorities to "debug". Restart the service and that should give you more information. I recommend taking the results of that log to BladeLogic support.
In the RSCD install directory, there should be rscd.log (the agent), and rscdsvc.log (the watcher service). If the agent (rscd) dies then the service (rscdsvc) will try to restart the agent.
If you need to access the log files remotely via nsh, use the logman utility because otherwise the agent will try to log the fact that you are reading the log, which can cause problems with open files.