Anup,
OSEM sends Problem Reports using http over tcp/ip on port 7920 to the WCCProxy application running on the model 2 client. To determine what version of WCCProxy is installed you can run the following command: C:\>wccproxy status. The only way to determine whether or not WCCProxy is communicating to ISEE is by generating an SNMP Test Trap, using either the HP System Management Homepage http://localhost:2381 select the settings tab and then the SNMP and Agents link the click on the Sent Test Trap button or from the HP Management Agents API Start>Control Panel>HP Management Agents, select the SNMP Setting tab and generate a test event from there.
This should then send generate an SNMP Test Trap and send it to the OSEM host (if the Windows SNMP Service is configured correctly). OSEM should then create a Problem Report that can be viewed from the OSEM Viewer on the OSEM host http://localhost:2069 click on the Notifications link. After generating the Problem Report OSEM should send the report back to the WCCProxy application running on the remote client (if OSEM is configured to send events remotely to ISEE, check the Remote Delivery page in the OSEM viewer to confirm this).
SNMP GETS are not sent to WCCProxy on the remote client, they are sent to the IM Agents on the remote client. You can confirm whether or not the SNMP GETS are failing by viewing the OSEM subfolder log which is by default in C:\Program Files\Hewlett-Packard\OSEM\log on the OSEM host.