If I understand your problem, I can explain how I did nearly the same:
If you have a binary image than you can use the function mask to ROI, than ROI Profile and than you get the contour points of that ROI, e.g. a circle or ellipse. The problem is the origin image, you will need a really binary image and I mean an image with zeros and ones, not the Labview Binary Image! I used the treshold function to get that "really binary" image, it cuts off every pixel under / over a specified intensity and results an image where everything pixel is set to 1 which is greater (smaller) than the threshold and the rest to zero. Nothing else.
If you have another solution, please tell.