Hi and welcome to the forum.
I personally haven't had the opportunity to try .Net development. There have been a few similar posts here over the last couple of years.
[URL="http://www.monarchforums.com/showthread.php?p=7527#post7527"]This one[/URL] might be the most likely to lead to a possible solution for you.
Does it help at all?
From the best of my recollection, the Monarch library does not allow you to use early binding. This is probably what is hanging you up.
I've set a reference to the monarch.tlb in Excel, which allowed me to view it's object model, but I was not able to directly reference them.
So, try doing late binding and you'll probably have better luck.