I am getting errors from Eclipse Indigo running on Windows 7 Ultimate. For each of the following items:
Android SDK content loader
Building workspace
Initial
I faced the same issue. Switching back to the predefined work-space from the Switch workspace option in eclipse solved my issue.
In my case, Eclipse tried to launch with non-existing workspace folder. Sure the folder is created at the moment, but the exception is occured durring creating the workspace. After the exception I just switched workspace to the right folder. To avoid slipping to non-existing workspace folder I deleted it from Recent workspaces.
In my case even after deleting the workspace and reimport doesn't work. Because all the files are Corrupted. so have utilized my existing backup data, extracted it & reimported into workspace then it started working fine.