Solution:

Once you are in XP Mode in Windows 7, please click the drop down button next to USB on the main Windows Virtual PC screen. Then, click on the attach button. Please give your machine a few minutes to catch up and then it will say downloading device driver software. Once the download is complete, please go to Device Manager and the device should show up in your Ports (COM & LPT). If you right click on "RS-232 Port" option and go to properties, it should show B&B Electronics as the Manufacturer. Please see attached screenshot.