You have to give the access to BO to allow third party application(Configuring Trusted Authentication for Business Objects)
Refer the Argus Oracle® Argus Insight BOXI Installation Guide, Release 6.0 Page no 118
Please fallow the below steps:
1. Log on to the Central Management Console (CMC) with administrative rights.
2. Click Authentication from the Home page.
3. Double-click on Enterprise.
4. Check the Trusted Authentication is enabled checkbox.
5. Create a shared secret for your users.
Create TrustedPrincipal.conf using note pad
The name of the file must be TrustedPrincipal.conf.
■ The file must be placed at this location:
■ The file must contain SharedSecret=secretPassword, where secretPassword is the
trusted authentication password.
■ The file must be saved with UTF-8 encoding if it contains non-ASCII characters.
■ Either Tomcat or Websphere must be installed on the BOXI Server.
One more point here Dont use the Argus insight Administrator Account to access the BO.Create a user and Try.
If possible create same as BO user in argus insight.