Moduler,
After creating the ActiveX reference in your VI, you can save it in a TestStand local variable by using the the SetValIDispatch method of the TestStand API. In another VI called by a subsequent step, you can retrieve the ActiveX reference from the TS local variable by using the GetValIDispatch. The reference you retrieve in this VI will be a generic ActiveX reference. You will need to either 1) use the To G Data function to convert it to the required type of reference or 2) type cast it to the required type of reference. The preferred method is 1) because it actually queries the reference to confirm that the interface you have selected is valid for the given reference. The second option blindly converts the reference.
I have modified your
VIs accordingly (see attached).
Another option is to use the Automation Open function in the read VI but enable send in False for the value of the Open New Instance input. I have not tried this technique, but it should work theoretically as long as you are using TestStand 2.0.x. In TestStand 1.0.x the ActiveX reference in your connect VI would have been closed automatically when the VI stopped running, and the instance of the server ref would not exist for subsequent steps. Using this latter technique dose have a risk. If for some reason your connect VI is unloaded, the technique would fail since the ref to your server would automatically be closed by LV.