The event log monitor in ipMonitor uses WMI which dynamically allocates ports on connection. However with the windows firewall you should be able to specify an exception.
Take a look at the WMI trouble shooting guide we have produced for another Solarwinds product APM as it should all be relevant to ipMonitor.
Take a look at page 13 "Add a Windows Firewall Exception for Remote WMI Connections".
That seemed to do the trick. Where does it place it in the firewall under. I don't see any exceptions that changed on the windows firewall? Although now it seems to work.