i have exactly the same problem that d0p3. can run the game via multiclient, but not by the silkroad launcher.
I download some other silkroad.exe but wasn't lucky to get one worked...
It might be a reason why it doesn't connect to the server who is online (smc all green)...
srNodeData.ini : [entry 2] I use port 15779, division file same one.
DEP done.
try set hosts not working
I think the start button miss a correct configuration linking the server files.