Narrowed the problem to being a Firewall issue. The information provided here (http://msdn.microsoft.com/en-us/library/aa389290%28v=VS.85%29.aspx) didn't help though.
Configuration is:
- Windows Server 2008 R2
- IIS 7.5 with Management Service enabled
- WebDeploy 2.0 (do I even need this?)
- MSBuild ExtensionPack 4.0.3.0
Question is how to configure the server's firewall to enable remote configuration using the Web tasks?