I think it is the wrong way. First you have to install the BM/S5 and then install Beoconnect.
This way Beoconnect searches for the BM5 itself. So you do not have enter the ip-address afterwards, like you have to do now.
A bit strange, but you even have to enter your serialnumber in the software when you're registering.
Otherwise NRadio will not work.
I never had to when I use beoplayer. A bit odd.