The TestStand option that you mentioned is meant to be used with a sequence call step, when you specify the calling sequence to be executed in a remote computer.(To configure the step, Right click in the Sequence Call Step->Select Specify Module and under MultiThreading and Remote Execution select Remote Execution).
There is no TestStand .tlb or .vbr file; in other words, as far as I know you can't call the TestStand API directly from a remote computer. However, you can setup TestStand to execute a SEQUENCE remotely, and in this case both computers Client and Server need to have the TestStand engine installed.
In addition, remember that each computer running TestStand needs a lisence.
If you need more information about how to setup remote SEQUENCE e
xecution, I suggest you to take a look at TestStand 2.0 User manual page 13-44. It describes how to setup TestStand for remote SEQUENCE execution.
Regards,
Roberto Piacentini
National Instruments
Applications Engineer
www.ni.com/support