There are 2 options to get further.
1) Is finding out why the application server cannot retrieve the CRL. Probably due to firewalls and proxy server restrictions. Sometimes an application server in DMZ is not allowed to connect outside of its DMZ.
2) The other option is to extract a public key only certificate (right click on the certificate in the computer - personal store) and save it as cer file.
Then import this cer file into the Trusted people container of the certificate store. Then it will only do a peer trust validation and not a chain trust validation.
(To open the certificate store: Start - Run - mmc<enter>; File - Add/remove snap-in - certificates - Computer account)
Configure the \InfoShare\Web\Author\ASP\Web.config and \InfoShare\Web\InfoShareWS\Web.config certificateValidation - certificateValidationMode to do PeerOrChainTrust (default setting) or PeerTrust.