To show a form (from another form or anything actually) you use either Show or ShowDialog depending upon whether you want a modeless or modal form.
The problem in your case is unrelated to this I believe. I believe the issue is one of threading. It isn't clear from the docs but it is pretty obvious that the EventArrived event is raised on a worker thread. Therefore the event handler cannot access any UI elements because it isn't on the UI thread. So I suspect that your form2 is potentially doing something that assumes it is running on the UI thread and fails. The exception details would probably help clarify this.
To work around this issue you should marshal the event back to the UI thread and do your work there. The defacto simple way of doing this is something like this in the handler instead. Warning: My VB is rusty.
If InvokeRequired
Invoke(ShowForm2)
Else
ShowForm2
End If
ShowForm2
is what is currently inside your event handler. It will be running on the UI thread and can do whatever UI stuff it needs. But note that if the UI is busy doing other work then this will stall the event handler and may cause some issues.