I'm in the same boat - did you ever resolve?
I feel I'm getting a little bit closer user the following connection string parameters:
Uid as user id
Pwd as password
PORT as port
I'm used to a connection string utilization in application form so where I would normally have my server address and then the port (Server=ipaddress, port) doesn't work.
I still get a Time Out error but not getting the above error from your screenshot any more ... I believe my error lies in the "Driver" piece of the connection string of which I'm not familiar where to lookup the different driver names...