I'm afraid it isn't quite that easy. From LV all you need to do is specify the machine name to get the remote access. However, in order for that to work, all of the COM stuff must be configured correctly for remote access (DCOM) and all the security settings must be done correctly. And if you are running XP SP2 or 2003 Server, there are additional steps to take because those OS's have tightened up security and thus have additional steps to get it to work.
SUMMARY
=======
If you don't know much about COM or don't have access to a COM guru that created the COM component you are trying to use, you might want to think about creating a little LV app that runs on the remote box and then use LV networking to remotely access it. DCOM isn't impossible, but it isn't easy - especially if you don't have a good grounding in non-LV COM interfacing.
DETAILS
=======
Is the COM object you are trying to access a home grown one or 3rd party? Are the two computers both in the same NT Domain or are they in Workgroup configuration? DCOM uses NT security and thus you typically need to have both computers in the same domain and using a domain credential for communication.
I'm afraid I can't give you step by step instructions on how to do this (I haven't needed to use DCOM in about 6 years) - but there are a lot of resources out on the web and books like Don Box's "Essential COM" walk you through most of it. For example, here are some references to look at
http://support.microsoft.com/kb/176799/EN-US/
http://support.microsoft.com/kb/158508/EN-US/
Oh, and this might be handy - ran across this while looking for links for you...
http://support.microsoft.com/default.aspx?scid=kb;en-us;249726
