The solution was two fold:
I. Reconfigure the LANDesk Software Service: General tab - Database area - Server. I changed it from its NETBIOS name to IPADDRESS,PORT.
After passing authentication, I am now able to go beyond the "accessing database" message. However, I encountered an error message:
Invalid authorization specification. Invalid connection string attribute.
II. In order to address the above mentioned error message, a reference to http://community.landesk.com/support/docs/DOC-8201 was made.
The console is now properly working on a Windows 7 workstation.