From Vista on Hypertermial is missing from Windows. Easierst way to get one runnin on windows 7 is to copy one 
from Windows Xp. Windows XP Hyperterminal works perfectly fine on windows 7.


open any Xp system copy 4 follwing  files

C:\Program Files\Windows NT\HYPERTRM.EXE
C:\Windows\Help\HYPERTRM.CHM
C:\Windows\Help\HYPERTRM.HLP
C:\Windows\System32\hypertrm.dll

Create a folder in windows perferabily under Program Files then copy these files. 

create shotcut 

Double click on the shortcut and u are good to go.