I tried that already and it's not connecting.Yes you can! I have used it a few times. Note that Companion needs to be installed on a different system. You'll need to you your TriCaster's IP address as well.
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Once you have it installed and running you have access to basic functions and macros.
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How can I disable the password?According to the TriCaster module instructions, the LivePanel password must be disabled for Companion to communicate.