If you want to embed an ActiveX object on the front panel, you go to the ActiveX palette and drop a container there. You select the object by right clicking on it and choosing "Insert ActiveX Object". You then browse for the object you want. In your diagram, you use property node and invoke node functions found on the Communication>ActiveX palette. You can also use the Automation Open function and in that case, you just use an automation RefNum. There are examples (at least LabVIEW 5.1 has them) - Help>Search Examples>Communication>ActiveX.
If, on the other hand, if you're asking how to make an ActiveX object out of a LabVIEW VI, that's not possible.