You do realize that if you register with EQEMU and try to connect to a LAN based IP machine it will utilize a local route right?
e.g. if I host on 192.168.1.100 and connect to eqemu login servers with it, then connect to it via 192.168.1.101 it'll route locally once I choose the server on EQEMU's server select.
That's what this line is for:
<!-- Only specify these two if you really think you need to. -->
<address>youremu.com</address>
<localaddress>192.168.1.100</localaddress>
<!-- Loginserver information. -->
At least that's my understanding. *shrugs*.