I m seeing on the first screenshot, you have assign the stick to the mouse ?
It can be usefull on mame but not on mGalaxy, mGalaxy don't use mouse.
You have 2 thing to do.
1 - make joytokey working with mgalaxy and ONLY mGalaxy
2 - configure mame with your cab after, Mame can reconise your cab control, it don't need joytokey.
To see, if joytokey is correctly configured, launch notepad, press 1 button and press a direction, if you don't see 2 characters or 1 character and a cursor move, configure joytokey again. Only after that you can launch mGalaxyrunaway.
ps: Not sure it's "stick" you need to configure, perhaps it's "axis"