Since ACO often exploits the weight of individual components (e.g. edges in a TSP), it is particularly poorly suited to continuous domains with non-separable fitness functions. Any reason you're not willing to use standard continuous-space techniques such as ES, PSO, or DE?
In a separable fitness function (e.g. f = f1 + f2), each dimension can be optimized one at a time. The optimal value for each dimension (f1* and f2*) will then lead to the global optimum for the overall function. In many benchmark functions, a separable function is made non-separable through the use of a rotation matrix.
I'd say that ACO algorithm might be usefull when it is very hard to compute gradient, when we have to optimize function with many variables (1000000). But it's only my hypothesis.