I have an Android NDK project whose NDK part compiles ok from command line; I used to have no problems with running the compiled stuff from under Eclipse as a pure Java project.
In your Android.mk file, please add
LOCAL_LDLIBS := -llog -landroid
The __android_log_print
isn't part of libc, it's in the log library, so you need to explicitly declare it to be linked in.
Note the eclipse will refuse to run the project if there's errors on either the C or java side. In this case, there's a linker error; the code didn't successfully finish compiling, so it won't run it.