I tried with my own unit here at the office…. Before the launch, information found in the official specifications (pdf link) and informally gathered from Canon official channels indicated the presence of the EOS Utility. People then just assumed that Remote Shooting would work because the Canon EOS M is very similar to the Rebel 650D, also called Rebel T4i in the USA.
It is not clear why Canon decided to castrate the EOS M from this feature, making it the only EOS camera without Remote Shooting ability. In all likelihood, this is due to some artificial market segmentation that makes no sense for the end-user.
Photographers who were dreaming of replacing their bulky DSLR which are connected to telescopes, or used for long time-lapse projects will be sorely disappointed. Without this function, the EOS M loses a huge (potential) edge against other compact mirror-less cameras. That is really a poor decision from Canon.