Nevermind, I figured out a dirty solution. I initialized the activex controls in the matlab workspace and made the activex handle a global variable. Then I had the simulink model pass the variable into a matlab function "test.m" which made another function "control_device" an extrinsic function and called it with the variable passed from the simulink model. The "control_device" function simply imported the activex handle using the global keyword and ran one of it's methods with the variable that was passed into it.
This is obviously not the most "optimized" solution, but it works for us.
