I was just in the process of editing my post to mention that. As it turns out, the command worked for me because I already had a successful API connection so it cached the port for me. When I have no existing API connection and remove the --iplocal flag, it gives me an error about invalid credentials.
There is defintely something screwy with mksapiviewer here so a case would be great to find the defect. In the meantime, you could try using a local client integration point for mksapiviewer:
mksapiviewer --iplocal im reports