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-X:PrivateBinding does not enable referring to classes that have internal visibility
specifying option -X:PrivateBinding does enable one to invoke methods with internal (or private) visibility, but it fails if the class containing the method is of internal visibility. This forces setting the class public to be able to write a unit test for it in Ruby.
The error is
NameError: uninitialized constant NapaLicensingTest::LICWrapper
The error does not occur if the class is public.
My guess would be that IronRuby does not take into account this option being set when creating a list of classes contained in a loaded .net dll.