Logfile shows the following messages:

[   1] Informational: Checking Evaluation Code (Evaluation 
Expires in 30 Days- Contact surfer@ie.com for more 
information)
[   2] Informational: Screensurfer Version 3.0.0E Beta 
Startup (Screensurfer Executable IELUA.EXE Successfully 
Started,
Root Directory is "c:\Screensurfer\HostServer\")
[   3] Warning: The Group: "LU_Group_1" for LU "IELUPOOL" 
has an invalid session range of "128" (no additional 
information)
[   4] Warning: The Group: "LU_Group_1" for LU "IELUPOOL" 
has an invalid session range of "128" (no additional 
information)
[   5] Warning: The Group: "LU_Group_1" for LU "IELUPOOL" 
has an invalid session range of "128" (no additional 
information)
.
.
.
[ 121] Warning: Validating Console User (The Console is 
currently unprotected--you should enter valid IP addresses 
in registry!)

When I double-clic
 

It looks like either there was a problem in the 
installation, or there was a subsequent editing of the 
connection definition...basically, the evaluation key only 
allows up to 10 concurrent sessions, and somehow you have a 
configuration that is trying up to 128 sessions.

To fix, try this with REGEDIT:

Open HKEY_LOCAL_MACHINE/Software/iE/Screensurfer/Config:
LU_GROUP_1

Change the value to IELUPOOL,1..10 (unless you see 
*ANY,1..128 -- change to *ANY,1..10).

Now, that is if you are trying to connect using SNA Server, 
with a pool of IELUPOOL.  Generally, we prefer that you 
configure with *ANY, then use the Visual Surfer Global 
Settings, and drop-in a connection link, where you can 
specify the IELUPOOL.

I changed the value to 10 and that problem was solved. I 
was not getting the "invalid session range" message. 
Nothing happened and I could not connect to the target 
host. So I uninstalled the software and deleted the 
registry entry for Screensurfer. I, then, reinstalled the 
software and I was getting the following message:

Warning: Validating Console User (The Console is currently 
unprotected--you should enter valid IP addresses in 
registry!)