Double check your eqemu_config.XML file in your eqemu folder. It looks as if its not connecting properly. You can follow this post if you dont know what parts to check/edit.
http://eqemulator.org/forums/showthread.php?t=32980
If that is in order, double check any port fowarding on your router (if you have one). The same post on the bottom will teach you about port forwarding.