Hello pr0digy,
This topic should be posted in the correct board which is "IV:MP Support" board.
Since it say "failed connection to 'ip', Retrying...", then the problem is either from your internet, or you didn't pass the correct IP. The correct IP is: 46.105.234.126:9999. The server is working fine, so the problem isn't from the server. Also, do you have the last version of IV:MP which is 0.1 T3 and the game patch v1.0.7.0 installed?
Good luck and I hope to see you in-game soon.