Did you check the emulator error logs? They are stored in the Logs folder. Are you sure that you are logged in in your CMS and that your Auth Ticket is being set correctly in your database? Maybe try logging in with another user account as well.
Is your emulator running and accepting connections? Port in client.php and emulator config have to be the same, and you need to add the port to your firewall rules.
Is the emulator showing 1 users online or not? 76% Stuck errors mostly are caused due to failed authentication or wrong SWF version.
Please verify if your external_variables links are correct too.