The reason why you cannot connect to this IP is because you will need to install hamachi on that other computer as well.
Once you do this, you will need to create a network on one of the computers. On the other computer join an existing network with the name and password you created. As long as both computers are turned on, have internet connection and hamachi is running, they will be able to access each other.
One of the nicest features that I have not found elsewhere is that you're able to create one of three different types of networks with Hamachi.
MESH: I use this for my home computers. I do not need to restrict access to these machines and hide them from other members of my Home Network.
HUB & Spoke: I use this for my Minecraft server. I will allow friends to connect to this machine (which happens to be part of a virtual cloud) and play on our Minecraft server. I absolutely do not want them to be able to access other computers on my network nor do I want them to access each others. Even if 15 people are connected here, they would only see the Minecraft server.
GATEWAY: This is awesome if you need to travel and need access to your network at work or something. In a small office, you can use this as a secure entry point to different things on your network while away. This would be similar to installing Hamachi on each computer at the office without the pain of doing so. Not used often for day to day home needs.