UPDATE: This turned out to be a bug in R14 of the SDK tools. It has been fixed in R15 which was released on Oct/27/2013. Updating to the latest release solves
If you're only debugging crashes, click on the red (E) (error) filter for your main logcat, and keep your filter tab set to default to view all lines that are being reported by your application.
What ends up happening, when your application crashes it stays closed unless requested to restart by your choosing. So, the last lines in the logcat will be the crash report. This is one of the ways of how I debug crashes.