If I'm not mistaking the METADBC is supposed to be located in the same directory as the the BizObj. The Emissary tells the Executant what data source to use, I may be wrong on this one (Kevin, if you're out there feel free to jump in anytime).

Try moving the METADBC to the same directory as where the BizObj resides. If you have an application built launch it so that the registry setting are recorded. Make sure that your application is set to point to remote data. You can also force the BizObj to point the remote data during development time.

Good Luck!