Chapter 19 of the LV user manual (Help>>Search the LV Bookshelf) has a part called "LabVIEW as an ActiveX Server". You may wish to start there. I don't know if it's possible to embed an entire VI as an AX object.
If you can't embed the VI (or run time engine) itself, maybe you can embed an explorer window and use remote front panels to call the VI. A bit *too* complicated, but if the other options can't be done, this should work.
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