I am not sure what needs to be done for it to work with Hamachi, but it definitely is not required like it is for WoW Emus.
It is probably an issue either here:
eqemu_config.xml
Code:
<!-- Only specify these two if you really think you need to. -->
<!--<address>Serving Machines IP</address>-->
<!--<localaddress>127.0.0.1</localaddress>-->
Note: You have to uncomment those lines to use them
Or maybe here:
login.ini
Code:
[options]
unregistered_allowed = TRUE
reject_duplicate_servers = FALSE
trace = TRUE
world_trace = FALSE
dump_packets_in = FALSE
dump_packets_out = FALSE
listen_port = 5998
local_network = 192.168.1.