If it's a watchdog that triggers, that seems to indicate that the processor has hung. The state you're capturing might be corrupt, in the worst case. Not sure how you get the "dump", so it's hard to tell.
In general on ARM, an odd address indicates a jump that wanted to switch to the Thumb instruction set.
See for instance this documentation of the BX
(branch exchange) instruction:
The BX instruction branches to the address contained in a specified register. The value of bit 0 of the branch address determines whether execution continues in ARM state or Thumb state.
Bit 0 of an address can be used in this way because:
All ARM instructions are word-aligned. This means that bits 0 and 1 of the address of any ARM instruction are ignored because these bits refer to the halfword and byte part of the address.
All Thumb instructions are halfword-aligned. This means that bit 0 of the address of any Thumb instruction is ignored because it refers to the byte part of the address.
However, I'm pretty sure the above implies that the PC is never actually set to an odd address, bit 0 is cleared by the branch instruction.