Adobe WhiteList Policy does not work to Override Protected Mode

Has anyone in this community been successful at getting a WhiteList Policy to work?  We have a Windows .Net program that needs to open our pdf's in a particular directory on the server.  We are using the Adobe Acrobat Browser Control Type Library 1.0 (AxAcroPDFLib).

The ONE example in the security docs looks quite specific and straight forward.   However, I cannot get the browser control to show any of the pdf files with protected mode turned on.  The program loads it but it remains solid gray.

Any help would be greatly appreciated.