You can work around this problem by modifying the following file:
C:\Xilinx\11.1\EDK\sw\XilinxProcessorIPLib\drivers\hwicap_v3_00_a\data\hwicap_v2_1_0.mdd
Change:
OPTION supported_peripherals = (xps_hwicap_v2_[0-9][0-9]_[a-z]);
To:
OPTION supported_peripherals = (xps_hwicap_v2_* xps_hwicap_v3_*);
This problem has been fixed in EDK 11.4, available at:
http://www.xilinx.com/support/download/index.htm