I do not really think test.exe does a proper worklist query. For testing you can best use the Query/Move page of a conquest server.
The correct syntax of test is, however:
test -l:LOCALAE -r:REMOTEAE -f 127.0.0.1 5678 WORKLIST
Without setting LOCALAE and REMOTEAE most servers will indeed reject the connection. But conquest does not care.
Marcel