I have several account on
djangoeurope.com.
What I mostly do is like you did, create a new project using their admin interface.
Next I backup the RUN script and delete that directory completely! The I checkout my project code, just make sure the project you are checking out (or copying) has the same name as the project you created in the admin interface.
Copy the RUN file back, for you development startup.
Next thing you'll probably need to do is edit the ~/init/project_name file
If you are using virtualenv the DAEMON line and point it to the python binary of the env you which to use.
For example: DAEMON=$HOME/Envs/project/bin/python
You might also want to change the SETTINGS to point to your production settings or whatever.
If you want to serve static files you should take a look in ~/lighthttp/django.conf.
For each project created an entry has been added to this file.
Just make sure the directories are setup correctly.
That should be all and you should now be able to start your project
~/init/project_name start
Good luck!