The issue was initially raised in the forum
(http://sourceforge.net/apps/phpbb/libusbdotnet/viewtopic.php?f=3&t=101&sid=ab04b93d78c74f0b5de5248c6b7fdaec) and is described in detail there.
Hence, (just) the summary here
For a composite device (>1 interface) connect fails for all interfaces except the 1st one listed in the device descriptor.