Hmm... Maybe try to get WinSTon sources (they were available). WinSTon was written
in MS Visual C++ Standard, so maybe there is a chance to make it working under Win CE with MS Visual Studio. I've never coded anything for WinCE but I know there is a possibility to write apps for CE in MS Visual Studio as we can read in MSDN library.
So... it's rather possible to port WinSTon and even to write another emulator, I think.