WorldServer isn't connecting to LoginServer - that's the issue. Are you sure the loginserver is located at 127.0.0.1? Your client is connecting just fine, your WorldServer is simply not connecting to login.
If all else fails, set up your eqemu_config.xml with your external IP, port 5998, no account information, in the loginserver block. See if that works.
EQEmu uses TCP ports 9000 and UDP Ports 9000, 5999, and 5998. If World/Login are on the same PC, you shouldn't have to forward to see the server in the list, but you may run into issues connecting to it externally once it does show up.
Zones also take a port range, and zones also use UDP exclusively (no TCP.)
If it's not showing in the list at all, and you are getting to server select, then that is not a problem with port forwarding but instead connectivity between Login/World.
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