Have you downloaded the drivers?

http://www.silabs.com/products/mcu/Pages/USBtoUARTBridgeVCPDrivers.aspx

use those with the new USB device. should you after that installation not "see" your device (can happen with win7), don't worry.
Fire up cgminer, should work.

If you want to run CG miner for your graphics card as well, make a copy of the CGMiner folder simply.
Use one for GPU, one for USB stick. when us start the USB stick version, use the no-gpu.exe version (for V3.7).

Hope this helps, I am kind of new to all this myself

PS: please don't type in all CAPS, it is pretty exhausting on the eyes.