I have tried numerous versions of this:

"Provider=SQLNCLI10;Data Source=MSTRMDB1-CORP;Failover Partner=MSTRMDB1-GULF;Initial Catalog=MeterWO;UID=myUID;PWD=myPWD"

I always get this error:
[Microsoft][ODBC Driver Manager] Data source name not found and no default driver specified

I think some of the parameters in your connect string might be more suited to an ADO connection or the like. (I have found some connect string options that are supposed to do "something" just don't work, or are named slightly different in an ODBC connect string than examples you might find)

I found what I believe might be a string you could use. I don't have a mirror, but I did come up with a string I believe at least tried to establish a failover partner, based on the nature of the errors I was receiving. (My connect string works without the failover partner, and has a pile of authentication errors with the partner in the string)

I have tried to translate my connect string to use the info you provided below:
DRIVER={SQL Server Native Client 10.0};SERVER=MSTRMDB1-CORP;DATABASE=MeterWO;Failover_Partner=MSTRMDB1-GULF;UID=myUID;PWD=myPWD;

Hope that helps!