Once you set up the invoke method, you do not need to keep the reference wired, you can just use the method. Under LabVIEW 7.1 (have not tried in 8), the executable builder will not automatically include the front panel, so make sure that the panel gets loaded or it will error....ie using it in a subVI. Also, if you are passing in data on front panel controls, it will reset those, so make sure you 'read' the data out before you initialize. It is easy from there to include it as a menu selection, since that is what it sounded like you wanted to do anyway.
Good Luck
Paul