Rajesh,
I'm not sure I understrand exactly what you're trying to do. It looks to me like you took a powerpoint object and just renamed it. I'm not a VB or VC programmer, and I don't work much with activex, but I'm sure this can't work. I think you have to register an ActiveX object before you have it in the list and that you have to export its properties and methods correctly and specifically for it to work.
Why not use the system exec VI?
Do you want to get data back from this program? Maybe you can build it as a DLL and call that from LabVIEW.
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