Apparently no attachment has been provided.
Anyhow, what seems strange to me is that "monitor" mode should be simply an updated screenshot of the front panel...
I'm not sure what's causing all the memory allocations, but I think it would be good to make sure they aren't originating from an issue with the original VI. You could use the performance and memory tool available through Tools>Profile>Performance and Memory to ascertain this. If you could post a screen shot with the tool open and the vi running, that would be helpful.
What are the specs of the computer you're running on? Does it affect matters if you increase the update rate for the front panel or tell it to run continuously? One thing you might consider is switching to hosting a RESTful web service. This should have less effect on your computer. Here's a link on how to do so: http://zone.ni.com/reference/en-XX/help/371361H-01/lvhowto/build_web_service/
What happens to memory usage if you run your vi for hours, with nobody connecting from the remote interface?
With the screenshots and information you've provided, we've looked into this a little further and I think we've identified the issue. A memory leak when using the monitor function for a remote front panel is a known issue in LabVIEW 2009. This was reported to R&D (CAR#182590) and was fixed in LabVIEW 2010. Here is a link to the current evaluation software download for LabVIEW 2011. This fix is recorded on the LabVIEW 2011 Bug Fixes docoument (look for CAR#182590).