NSVcap locks up if u got the preview on. You should use NSVenc instead. I just use a batch file that looks like this.
nsvenc /config cap:0,i sc:[my.shoutcast.server]:[shoutcastport]:headers.txt
Double click the batch file, and just tune in the stream for previewing.
Oh and connecting to remote graph only works for applications that have it enabled.
I read about it on msdn.