We have added a new option: Tools->Options->VisualGDB->General->Profiling->Delay before starting valgrind’s vgdb tool
Please try setting it to 5000 and check if this solves the problem. If yes, try reducing it to 500-1000. If not, please increase it to 60000 and open VisualGDB Diagnostics Console. VisualGDB will show the exact command line it is about to launch before it starts waiting. Please try running the command line manually from an SSH terminal and check if it also results in an error. This should help understand whether vgdb or valgrind itself (launched before) is behaving differently in VisualGDB vs. manual SSH console.
It looks like valgrind is running the memory leak detector instead of the profiling module. Could you please recheck whether valgrind works on a clean project? If yes, please try checking the differences between the VisualGDB settings for the 2 projects.