component instancing problem

I have a self-made dll ( data.dll), that i want to use from two different applications. In the first application( standard EXE) it works fine, but in the second(actviveX EXE) i'm not able to call the component. I receive the "Error 429- ActiveX Component can't create object"

However, if I combine the second application and add the data.dll project in the VB IDE, then they run perfectly. Howcome, i wonder?

You registered the component correct??

I think the component is registered automaticly when compiling the first project. However, i've read something about versioning of components. When I compile my component in the first project, do i then have to reference another time in my second project, which uses the same component? If yes, how do i then develop on both projects at the same time?

Thanks for any comments on this...

True, it is registered on the local machine when you compile the component, however, you still need to set a reference to the type library for all of your client apps that use the dll.