monitor rs-232 or check serial tx

I'm trying to use the serial library to send hex power commands via rs-232 from the arduino with a single toggle switch.

Is there a way that I can use the serial monitor or hyper terminal to monitor the response from the projector? ie tx, rx, grnd leads attached to the arduino and monitor via usb?

If you're using an rs232 driver on the serial port of the arduino (pins 0,1) to talk to your serial device, you should still be able to monitor the data that the arduino TRANSMITS by using the serial monitor function (or hyperterminal), but it won't be able to see responses that come from the serial device TO the arduino.