Thank you for contacting us.
I checked the log file you provided and what I saw in it is that probably you didn't manage to set up the TFS connection correct. Test Studio is trying to connect to "http://tfs:8080/tfs"
which is the default value and points to no exact server. Here
is an article which describes how to establish connection to your TFS server.
Please give it a try and let me know of the outcome.
Hope to hear from you soon.