Had a few spare minutes yesterday to move the eclipse word wrap plugin from sourceforge to github.
While on it also added keyboard shortcut so you can switch on-off the wrapping using Ctrl+Alt+W (M1,M3+W in "Eclipse Language").
Trust me, it's a useful plugin : )
Latest version can be installed from the update site: http://ahtik.com/eclipse-update/
Thanks to the shortcut I'm not even waiting anymore to have it fixed in the very deep core of the Eclipse platform as the changes would be massive and simply switching it off before launching a debugger is good enough for now.