MCF8316A: Is the EEPROM essentially One Time Programmable (OTP)?

I programmed the MCF8316 on the board I designed by connecting the i2c from the EVM and using the GUI.  Now I am trying to change a few parameters.  I change them in the GUI, press "Write to EEPROM", I get a message saying the EEPROM write was successful.  I power down the system, power it back up, restart the GUI and read all registers.  None of the changed parameters are there.  All the original parameters are still there.

There is a cryptic statement in the datasheet on under 7.6.1 EEPROM Access:

"EEPROM can be written and read using the I2C serial interface but erase
cannot be performed using I2C serial interface."

Does this mean it is OTP?

Thanks,

Dave Gustavson