"HTTP transport error: java.net.ConnectException: Connection timed out"
Apparently their webservice did not respond within a reasonable amount of time, or your application is not allowed to setup a connection to a remote server because it is behind a firewall, proxy etcetera.
Yep, it was the proxy!
Configure it in the project Settings, tab Configurations, edit current Default profile, tab Server, add proxy settings to the 'Extra JVM parameters', for example add:
-Dhttp.proxyHost=myproxyserver.com -Dhttp.proxyPort=80
Thanks, I'll look into the proxy settings tomorrow, 2nd option is to try to avoid the proxy.