I had experienced that error before. By the way, I own an internet cafe shop and I installed PTO on my pc. The other pc can connect to the game without encountering error but the other pc was not. You must have the PTO client, the new patch and the auto patcher. Extract the files on one path. (For example, c:/program files/PTO) you have to installed that in order (first is the client, the new patch and lastly the autopatcher. Then go to the file path where your PTO is installed and you will see the PTO launcher. If your running on Windows 7, right click the launcher then run as administrator. It should be autopatched. Then you can connect to the game. Enjoy.
if you're still encountering the Acquiring Server IP just like Point said if you're using Windows 7 run the launcher as administrator and close your anti virus for a while then try to log in, just turn it on once you got connected. hope this one helps