If 1.2.3.4 is the real (internal) IP of your server attached to the interface, it won't need to go through the gateway and you should be able to telnet to the port.
If 1.2.3.4 is an external IP that is NAT'ed to your server internal IP 2.3.4.5, it will have to go through the gateway and route back.
In that case that means the ports you need to reach on your server have to be forwarded by the gateway/router/firewall doing the NAT.
In the bindings, you will never see your external IP if it's not directly attached to the interfaces. The bindings only shows available local interfaces.
You have to bind the ports on your internal IPs.
That's not specific to SM, it's how network... works, when you're using an internal IP that is mapped externally to an ... external IP.
Sébastien Riccio
System & Network Admin
https://swisscenter.com