You are correct, it is the \nulldelimiterspace that is causing
problems. MathJax only processes dimensions that are explicitly
given, not ones stored in control sequences like \nulldelimiterspace.
(It does not have TeX's concept of a dimen register.) In MathJax the
nulldelimiterspace is 0pt anyway, so just leaving out \kern-
\nulldelimiterspace entirely should get you the rendering you desire.
> Even it does not change the size of mathord (/)
> used in this equation which is also a worry.
That is because the default size of the solidus is sufficient to cover
the size of the P_{no} and the 2, so a larger version wasn't needed.
If you had terms that where larger vertically, the solidus would have
been larger to accommodate that. (Of course, there are only 5 sizes
of this character in the MathJax fonts, so you can only take that so
far.)
> Please let me know if it can be configured in local host as sometimes
> it takes a few minutes to render math equations due to Internet speed
> problem.
See the installation documentation at
http://www.mathjax.org/docs/1.1/installation.html
for details.
Davide