1. A computer-implemented method for dynamically updating a software debugging policy associated with a software application, the method comprising: executing an application code with embedded debugging code that produces at least one corresponding debugging event; receiving configuration information that includes a debugging action associated with the corresponding debugging event; encountering the debugging event during the execution of the application code; determining the corresponding debugging action for the debugging event from the configuration information; performing the corresponding debugging action; receiving a modification to the configuration information during the execution of the application code, wherein the modification includes a new debugging action for the corresponding debugging event; applying the modification to the configuration information without halting the execution of the application code and without modifying the application code; and performing the new debugging action in response to the corresponding debugging event.