Never mind. When I tried a different USB driver, it showed-up as a USB device rather than COM device and then cgminer could see it.
It's odd though, normally you use a COM device for Alt coins. Why did Bitcoin decide to use a different interface?
CGMiner doesn't use Com device drivers it uses direct USB. CGMiner told you to read the readme.txt which explains how to use the Zadig utility for Windoze to install the WinUSB driver. Has nothing to do with Bitcoin per se.
I had the COM software already installed and saw the COM8 port so I thought it would be good to go.
I use cgminer for the alt coins and it works fine with COM ports, which is why I didn't give it a second thought.
When I read the README, and tried the zadig driver, it moved the COM port to a USB device, and that is what this version of cgminer appears to prefer.
Anyhow it's working now, getting an 1+ GHs rate, which is much better than with all my GPU rigs (100MHs).
Looking forward to my 10x earnings, and it's such a small device...