Ebin Thomas,
Where are you seeing this exception? Is it an exception from DevTest itself? Or is it an exception from the Web service that you are testing? And is this for sending a signed request to the Web service or are you trying to validate a digitally signed response? A screenshot of the result and how you setup your test case will be helpful.
That said, my recommendation is to first get a successful response from the Web service by sending a valid request. Upon getting past this you can start to setup a verify/assertion mechanism for validating the digitally signed response.
Keep in mind that you need to select the right drop down menu items from the Key Id Type, Algorithm, and Digest Algorithm for both sending a signed request as well as verifying a signed response. Having one of the values off will generate or verify an invalid signature. So I want to stress the importance of finding out the prerequisites for consuming the Web service, such as having the Java Keystore, and the XML Signature algorithm etc.
You can familiarize yourself with a sample WS Security enabled Web service shipped with our Examples project and DemoServer. You can find the Examples project in DevTest home install folder. And the test case is called ws_security-xml.tst, but remember to start up the DemoServer prior to running the test case.
There should also be documentation on running the demoserver and running the test case in the tutorials provided by the other users in this thread.