Thank you Dr. Spielberg for the help!
I tried to edit things accordingly, but I was still running into similar issues.
Below is my matlab output (I'm using R2014B).
I also attached a screengrab of my settings for GTG.
I also pasted my preproc_logfile below.
Any thoughts on what I might be doing wrong?

Thanks again!

Matlab output:
>> Subjects={'2011031012401';'2011031012402'};
>> labels = {'wholebrain',1};
>> METAlab_GTG
Warning: matlabpool will be removed in a future release.
To query the size of an already started parallel pool, query the 'NumWorkers' property of the pool.
To check if a pool is already started use 'isempty(gcp('nocreate'))'.
Error using dlmread (line 61)
The file ' ' could not be opened because: No such file or directory

Error in METAlab_GTG_preprocess_GUI>preprocess_for_graph (line 1683)
mot_pred = dlmread(par_filename);
Error in METAlab_GTG_preprocess_GUI>Start_pushbutton_Callback (line 1233)
[out.ts{currsub,1},out.num_censored_vols(currsub,1),out.num_censored_vols_FD(currsub,1),out.num_censored_vols_DVARS(currsub,1),out.GCOR(currsub,1),out.mean_FD(currsub,1),out.mean_DVARS(currsub,1)]
=
preprocess_for_graph(out,sub,logfile_fid,img_ext,func_filename,parc_filename,funcmask_filename,WM_filename,vent_filename,parc_warp_filename,WM_warp_filename,vent_warp_filename,par_filename);
Error in gui_mainfcn (line 95)
feval(varargin{:});
Error in METAlab_GTG_preprocess_GUI (line 80)
gui_mainfcn(gui_State, varargin{:});
Error in
@(hObject,eventdata)METAlab_GTG_preprocess_GUI('Start_pushbutton_Callback',hObject,eventdata,guidata(hObject))
Error while evaluating UIControl Callback

====

Output filename = /Users/jamielarshanson/Desktop/GIMME_test/Test_preproc
# of ROIs = 1
# of timepoints = 128
(User specified) TR = 2.300000e+00
The ROI timeseries were extracted after all preprocessing had occurred
Motion-censoring was performed with FD cutoff = 0.300mm and DVARS cutoff = 2.500

Base filenames:
Base filename for functional data = /Users/jamielarshanson/Desktop/GIMME_test/SUBNUM_rest.nii.gz
Base filename for functional mask = /Users/jamielarshanson/Desktop/GIMME_test/SUBNUM_rest_mask.nii.gz
Base filename for ROI mask = /Users/jamielarshanson/Desktop/GIMME_test/SUBNUM_rest_mask.nii.gz, which was input in Functional space
Data partialing:
The summary measure used to extract the timeseries from each ROI was the Mean
Participant specific information: