When checking in/out an object with in Toad with Microsoft Team Foundation Server, the following error may occur "Unable to get revision from VCS repository..error downloading "the filename..." with the filename referring to the object that you are trying to check out. In the output window, the you may also receive a message "Error:VCS archive is empty."
A different workspace was used when logging in as a different OS user but same Oracle schema user.
Select the same workspace if you are logging in as the same schema when using team coding with Microsoft Team Foundation Server.
So for Dev 1, log in as schema abc, I created a workspace call Workspace1 and was able to check out modified, compiled and check back in.