Hi Peter,
You don't seem to be doing anything wrong, except maybe that you are using the development version and not the latest tag, but still that should not do that.
Not being sure what exactly is happening, could you please try to comment:
$mmInitDelegateProvider.registerProcess('mmUpdateManager', '$mmUpdateManager.check', mmInitDelegateMaxAddonPriority + 300, true);
in www/core/main.js.
Then try again to launch the server.
By the way, you should see a lot more debugging messages. Example:
'webkitIDBRequest' is deprecated. Please use 'IDBRequest' instead.
mm.bundle.js:1637 $mmInitDelegateProvider: Registered process 'mmAppInit'.
mm.bundle.js:1637 $mmInitDelegateProvider: Registered process 'mmUpdateManager'.
mm.bundle.js:5036 $mmCoursesDelegateProvider: Registered addon 'mmCourse' as navibation handler.
mm.bundle.js:1637 $mmInitDelegateProvider: Registered process 'mmLogin'.
mm.bundle.js:5700 $mmUserDelegateProvider: Registered component 'mmaGrades:viewGrades' as profile handler.
mm.bundle.js:5036 $mmCoursesDelegateProvider: Registered addon 'mmaGrades' as navibation handler.
mm.bundle.js:5700 $mmUserDelegateProvider: Registered component 'mmaMessages:sendMessage' as profile handler.
mm.bundle.js:5700 $mmUserDelegateProvider: Registered component 'mmaMessages:addContact' as profile handler.
mm.bundle.js:5700 $mmUserDelegateProvider: Registered component 'mmaMessages:blockContact' as profile handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModAssign' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModBook' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModChat' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModChoice' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModFolder' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModForum' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModImscp' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModLabel' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModPage' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModResource' as course content handler.
mm.bundle.js:4908 $mmCourseDelegateProvider: Registered addon 'mmaModUrl' as course content handler.
mm.bundle.js:5700 $mmUserDelegateProvider: Registered component 'mmaNotes:addNote' as profile handler.
mm.bundle.js:5036 $mmCoursesDelegateProvider: Registered addon 'mmaNotes' as navibation handler.
mm.bundle.js:5036 $mmCoursesDelegateProvider: Registered addon 'mmaParticipants' as navibation handler.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer e856fe74e4ee5c24796230f420538584 listening to event login
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 1b6e88943592a9d7cb34771fb53ab592 listening to event login
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer d0a49237ad5206837df1520be0272976 listening to event session_expired
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmURLDelegate: Register observer 'mmLoginSSO' for custom URL.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer f63b7d0385d547f8859dead38f9543e1 listening to event login
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer edfa4ccabaa21ca392990aaf65adddc7 listening to event site_updated
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmSideMenuDelegate: Register plugin 'mmaCalendar' in side menu with priority 400
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmLocalNotifications: Register observer 'mmaCalendarEvents' for notification click.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmSideMenuDelegate: Register plugin 'mmaFiles' in side menu with priority 200
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmSideMenuDelegate: Register plugin 'mmaFrontpage' in side menu with priority 1000
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmSideMenuDelegate: Register plugin 'mmaMessages' in side menu with priority 600
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 5501655b6e57a4ebda0f2cd187f88410 listening to event login
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmPushNotificationsDelegate: Registered handler 'mmaMessages' as push notification handler.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmModuleActionsDelegate: Registered handler 'mmaModAssign' as module handler.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmModuleActionsDelegate: Registered handler 'mmaModForum' as module handler.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmSideMenuDelegate: Register plugin 'mmaNotifications' in side menu with priority 800
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmPushNotificationsDelegate: Registered handler 'mmaNotifications' as push notification handler.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 43cae95502cd07483e1e6bf892cc862a listening to event login
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmLocalNotifications: Register observer 'mmaPushNotifications' for notification click.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 3c8c704f5afa1a8ee885f0242ac7ae5d listening to event site_added
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 9ab764fb71dadfd6264bcca1a1f242de listening to event site_updated
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 0c8dc32ce97441162e91f88f293ab102 listening to event login
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmEvents: Observer 61a44059fb747366d60a445a2a297449 listening to event logout
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmInitDelegate: Executing init process 'mmAppInit'
ionic.bundle.js:20434 30/7/2015 7:07:55 pm mmLogin: Forbidding state change to 'mm_login.site'. App is not ready yet.
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmInitDelegate: Executing init process 'mmUpdateManager'
ionic.bundle.js:20434 30/7/2015 7:07:55 pm $mmInitDelegate: Executing init process 'mmLogin'