One of the big complaints about Windows 7 is the lack of HyperTerminal. So here is how to get HyperTerminal on to Windows 7 (32 or 64-bit).
On the Windows 7 box make a new folder under C:\Program Files\HyperTerminal for 32-bit and for 64-bit make a new folder C:\Program Files (x86)\HyperTerminal
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hypertrm.exe
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hypertrm.dll
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hypertrm.chm
If you want to have HyperTerminal on your Start Menu just create a shortcut to hypertrm.exe and put it in C:\ProgramData\Microsoft\Windows\Start Menu\Programs and when you go to All Programs under the Start Menu HyperTerminal will be there.
You can download the files you need from this link:
Technical Blog 