After I configured iNet to block the internet and only allow particular IP address of a domain by adding the IP address in Allowed IP address tab, the program works as advertise. Any program or browser that will make a connection to the specified IP address while the internet is disabled or blocked for all others site or applications and services is not allowed by iNet Protector.
The program will use 4.5MB of memory and even if you closed its tray icon or exited the program, iNet continue to protect the internet connection by only allowing what I configured. If the bypass option in its trial edition is not available, it'll be nice to continue trying this program for many days but that's their strategy to sell the product which is OK.