Is this on the Mac? I don't know crap about Mac's =/
Perhaps triple check the various parts installed for the communications circuit are in the right place and diodes and capacitors are in the right orientation and move on. The next step is with the MS chip in place and using the boot loader and Tuner Studio. Then you just need to know what the comm port number is and tell TunerStudio. The bootloader will search for the comm number if you tell it too. Worse case, if you can't get it to communicate at that point then you back track through the comm check. If it communicates then, then you know it works. No Hyper Terminal needed if it works.
Just watch for the warnings in the power circuit assembly about what can fry the processor and double check those conditions aren't happening before installing the processor. There is ONE pin that needs power for the MS2 chip and not the MS1 and mixing them up would fry an MS1 chip. Otherwise, I think it's pretty straight forward.
