You need to install SilkMeter. Generate a Policy file for that specific server (uses MAC address for this generation). Then generate all your policy files based on this SilkMeter Server, if you do this you won't have an issue.
After I import license and finish the installation,I don't see the SilkMeter SERVICE under services.
When I try to start the Service from Borland folder under 'Start->Programs', it says :\"THis Application has failed to start because 'LIBEAY32.dll was not found. Re-installing the application may fix the problem".
My question is does Borland Supports VmWare for SilkMeter installation?
I don't see why not. vmWare is basically the same computer as physical except it's in virtual space.
You can also install your license server on your host machine and point SilkTest from Guest OS to your host and it should definitely work (if you have enable networking).