Try this:
in win7,only option - open control pannel ,Open Phone and Modem Options by clicking the Start button , clicking Control Panel, clicking Hardware and Sound, and then clicking Phone and Modem Options.
or u can create hyperterminal in win 7
open any Xp system copy 4 follwing files
1)-C:\Program Files\Windows NT\HYPERTRM.EXE
2-C:\Windows\Help\HYPERTRM.CHM
3-C:\Windows\Help\HYPERTRM.HLP
4-C:\Windows\System32\hypertrm.dll
then open win7 system create a folder name of "HyperTerminal" under programe files then paste 4 files
create shotcut -"C:\Program Files\HyperTerminal\HYPERTRM.EXE"
open short cut hyperminial is ready