If you download the below software, you can use this to test your connection to the telescope assuming your cable is correct. It is quite smart and will try and autodetect the correct com port AND the correct baud rate. It was written by THE MAN who knows all Meade everything!
Good piece of software for testing. It does a lot more too.
http://members.optusnet.com.au/johansea/MyScope4960.zip