To work around this issue, disable elfcheck in SDK:
- Right-click on your project and select Properties.
- Expand the C/C++ Build section.
- Select Tool Chain Editor.
- Select the desired Configuration (Debug, Release, etc.).
- Click the Select Tools button.
- Check the "Allow all changes" option.
- Highlight Xilinx ELF Check in Used Tools on the right.
- Click the <-- Remove tool button.
- Click OK.
Additionally, if you attempt to use Program FPGA from the Xilinx Tools menu and select the same ELF as ELF File to Initialize in block RAM, it also fails.
To work around this problem, select the bootloop as ELF File to Initialize in block RAM, or program the "download.bit" file via the iMPACT GUI or batch mode.